The metaverse is a collective, virtual, open space created by combining virtually enhanced digital and physical reality, and is known for providing users with immersive experiences. Although this concept is still in its infancy and has a long way to go before reaching maturity, it has the potential to completely disrupt the AR/VR experience. Several major players, including Facebook, are investing heavily and working tirelessly to ensure the success of this concept in the coming years. The metaverse is expected to provide decentralized, persistent, interoperable, and collaborative business opportunities and models that will assist companies in taking digital business to new heights.
Consider a virtual world in which people live, work, shop, and interact with others from the comfort of their physical couch. This is referred to as the metaverse. The metaverse is thought to be the next step in the evolution of the internet. It will manifest itself in a variety of ways, including gaming, online communities, and business meetings in which people collaborate using a digital facsimile or avatar of themselves.
The metaverse is expected to merge all isolated immersive virtual ecosystems into a unified whole in the near future. The end result will be a single massive all-encompassing metaverse accessible via a single browser (just like the internet offering various websites). For example, a user working in a virtual office can hold a Mixed Reality meeting with an Oculus VR headset and then play a blockchain-powered game after work. Within the same metaverse, the user can then manage their finances and portfolio.