According to Dictionary.com, the metaverse is defined as “a shared, realistic, and immersive computer simulation of the real world or other possible worlds, in which people participate as digital avatars.” In essence, the metaverse represents a virtual realm where users engage within computer-generated environments alongside other users. For those who harbor skepticism or doubt about this novel concept, consider that the term is now officially recognized in dictionaries. Additionally, the substantial investment by numerous major companies in the metaverse underscores its emergence and enduring presence.

If you remain uncertain about the metaverse, envision a universe akin to video games like Sims, Minecraft, or Fortnite. Now imagine having the ability to replicate almost every facet of real life within this virtual space. Purchasing homes, dining out, attending concerts or sports events—these activities become possible. Business meetings can be conducted as if participants are physically together. Social interactions and the establishment of friendships mirror those occurring in person.

Many consider the metaverse to be the next evolutionary step in computing and the subsequent iteration of the internet. Similar to the internet’s early days, there is no universally established industry standard as of yet. Industry giants such as Meta (formerly Facebook), Apple, Microsoft, and others are racing to spearhead metaverse development, vying for control. Those who succeed in shaping the metaverse will wield substantial influence over industry standards and regulatory frameworks. It’s undeniable that the metaverse will find applications in both personal and business domains, with business meetings potentially occurring adjacent to virtual gaming events.

Amidst the race to innovate, fundamental challenges loom. Different companies will construct distinct environments; consequently, avatars may appear Lego or Minecraft-esque in some instances, while others exhibit greater complexity, resembling digital twins found in Fortnite or Sims. Transitioning between different metaverse communities may necessitate creating new avatars aligned with each distinct environment.

Another substantial challenge aligns with issues already observed on the internet. Bias, harassment, and misinformation will be magnified within the metaverse. Given that users’ minds can be easily deceived into believing they are present in the virtual realm, establishing codes of conduct and regulations assumes paramount importance. Disagreements regarding free speech and the stance adopted by society and corporations will considerably influence how the metaverse tackles these challenges.

The question of when or if the metaverse will become as commonplace as the internet in daily life remains uncertain. However, the substantial investments made by major corporations lead one to believe that the metaverse could indeed represent the next phase of internet evolution.