The World Economic Forum and major corporations last month launched its “Defining and Building the Metaverse” initiative, with corporate stakeholders jockeying for a role in defining, developing — and profiting — from the technology.

The World Economic Forum (WEF) and major corporations, following talks at last month’s annual meeting in Davos, Switzerland, launched a new initiative: “Defining and Building the Metaverse.”

As the initiative’s name implies, its stakeholders are still in the process of defining exactly what the term “metaverse” means.

However, according to the WEF, in part, the metaverse involves a moment “at which our digital lives­ — our online identities, experiences, relationships, and assets — become more meaningful to us than our physical lives.”

One person involved in the talks, Julia Goldin, LEGO’s chief product & marketing officer, expressed optimism about how the metaverse could aid in children’s development:

“To us, the priority…