What is the Metaverse?
For now and the foreseeable future, the metaverse can be explained as an immersive online experience that utilizes virtual reality (VR) and augmented reality (AR) technology and devices—theoretically, a world of unlimited imagination. Although many believe the metaverse to be the next-generation of the Internet, it is not a new concept. In fact, it has been under serious discussion and in development for at least 10 years, building on a concept that has been well-established in science fiction for decades.
Of late, the metaverse has gained a higher profile because major tech companies, such as Meta (formerly Facebook) and Microsoft, have announced their plans to develop new metaverse platforms for both entertainment and working purposes. This has stimulated enthusiasm from other industry players to develop ecosystems compatible with the major players’ metaverse visions, in a manner that is increasingly accessible for general users. However, we are yet to…