• This regular roundup brings you a selection of the latest news and updates on the development of the metaverse.
  • Below you'll find insights and opinions on how this emerging technology could transform the way we work, make purchases and spend our leisure time.

How women are shaping the future of the metaverse

On International Women's Day, Meta (formerly Facebook) highlighted the role women are playing in the creation of the metaverse. Meta says it brought together five female VR creators, in avatar form naturally, for a podcast where they discussed their work and creative vision towards the metaverse.

In the podcast, Ang’l Artiste, Candice Houtekier, Mary Matheson, Mary Spio and Michaela Ternasky-Holland discuss how they are using immersive tech and creative art to build communities and conduct business.

Metaverse tech boosts business for VR manufacturers

Nikkei Asia reports surging sales for manufacturers of the virtual reality technology that will be fundamental in accessing the metaverse. The report highlights rising VR revenues for Sharp which shipped more than $200 million worth of VR units in 2021 according to Nikkei Asia's analysis. Displays and processor chips are most expensive components in VR devices, says the report.

Virtual property boom comes to Hong Kong - with warnings attached

The South China Morning Post has reported the launch of the Metaworld Development Project, an NFT scheme said to offer affordable investments in virtual land. The report says buyers of shares will receive a digital key which "represents a percentage of ownership of the project's total portfolio of virtual land." Earlier this month, Hong Kong's cybersecurity watchdog warned of the risks related to NFTs and metaverse property investments.

Boat designer prices metaverse superyacht NFT at $95 million dollars

A 63-metre NFT superyacht named Project Metaverse has been listed for sale with a price tag nudging $100 million, reports Boat International. The good news for potential buyers is that the yacht builder will throw in a real-world version of the virtual craft along with the non-fungible token.

Virtual image of a yacht.
An illustration of a virtual superyacht called Project Metaverse
Image: Boat International

A market in virtual luxury is emerging as the metaverse is still in its infancy. A company called Cloud Yachts says it has teamed up with some of the world's top yacht designers to create a fleet of NFT vessels.

AI, machine learning, technology

How is the Forum helping governments to responsibly adopt AI technology?

The World Economic Forum’s Centre for the Fourth Industrial Revolution, in partnership with the UK government, has developed guidelines for more ethical and efficient government procurement of artificial intelligence (AI) technology. Governments across Europe, Latin America and the Middle East are piloting these guidelines to improve their AI procurement processes.

Our guidelines not only serve as a handy reference tool for governments looking to adopt AI technology, but also set baseline standards for effective, responsible public procurement and deployment of AI – standards that can be eventually adopted by industries.

Example of a challenge-based procurement process mentioned in the guidelines
Example of a challenge-based procurement process mentioned in the guidelines

We invite organizations that are interested in the future of AI and machine learning to get involved in this initiative. Read more about our impact.