Metaverse means higher universe. It is more than hype – it is a new user experience. Metaverse is a digital reality that combines the aspects of social media, online gaming, Augmented Reality (AR), Virtual Reality (VR) and cryptocurrencies to allow users to interact virtually. Augmented Reality overlays visual elements, sound and other sensory inputs onto real world settings to enhance the user experience. A metaverse is a network of 3D virtual world focused on social connection. It is a hypothetical iteration of the internet as a single, universal and immersive virtual world that is facilitated by the use of VR and AR headsets. Metaverse gives a seamless 24×7 experience. The term ‘metaverse’ doesn’t really refer to any one specific type of technology, but rather a broad shift on how we interact with technology. Convergence of IoT, AI, Blockchain and other disruptive technologies are responsible for creating an immersive experience in the metaverse.

Gaming industry has already entered into metaverse. Metaverse will eliminate the need to travel to visit a place (virtual tourism) and so will be very helpful for disabled persons while doing work from home, the employees can interact with other employees with this technology. Similarly students attending online classes can interact with their teachers and classmates. Metaverse facilitates online trade shows and expos.

Definition of Metaverse Metaverse is a seamless convergence of our physical and digital lives, creating a unified virtual community where people can work, play, transact, relax and socialise. Arenas of metaverse where a lot of activity is happening: Digital commerce, digital currency, Non fungible tokens (NFTs), entertainment, social media, digital assets, gaming, workplace, infrastructure and AI assistants.

Source: https://www.bizzbuzz.news/trendz/metaverse-will-open-up-new-opportunities-for-businesses-1201941