This chapter of The Metaverse: A Critical Assessment explores the potential benefits and risks of the metaverse for individuals and society at large. At the individual level, the central question is whether the metaverse can enhance human well-being; at the societal level, whether it can contribute to the public good by strengthening key social institutions such as education, healthcare, and democratic governance, as well as supporting civic life and environmental sustainability. The first section focuses on individual well-being, examining how metaverse use may both support and undermine aspects such as pleasure, health, achievement, meaning, personal growth, and social connection—with particular attention to risks for mental health and social well-being. The next section assesses the metaverse’s potential to serve the public good by evaluating its impact on domains like work, education, healthcare, public discourse, and civic engagement. It also considers whether the social and political structures within the metaverse can promote social cohesion and resilience and democratic governance. The final section addresses the metaverse’s environmental implications, recognizing sustainability as a critical component of the public good.