After Vii, here comes Viiphone!

[CrashMan]

I assume your question was intended to be facecious, but in case it wasn't yes it is possible. Though they are broadly misused (as is the case in describing china as a third world country, as it is not,) the terms first, second, and thrid world countries are used to catagories nations based on their Human development index, which is calculated based on things like life expectancy, education, etc. Through some (i'm sure convoluted) formula, a decimal number is assigned for each country based on the criteria, and the qunatatative "worldness" is assigned. So if all countries in the world were above the threshold between first and second world, there would be a world full of first world countries.