Last week, our company hosted a webinar to familiarize people with a new concept: the metaverse. It was a full house with 500 people in attendance, and the chat window was buzzing the entire time. Overall, 89% of the participants felt that the metaverse was a great opportunity, while 11% felt it was primarily a risk. That said, a shared definition of the metaverse proved elusive. The webinar revealed the excitement, confusion and fear that this concept conjures. Here’s an article to take a step back and focus on the basics.
The metaverse is a (potential network of) 3D virtual world(s) on the internet. These worlds are typically designed to be highly social and require users to have virtual identities, often through avatars with specific attributes. These worlds can provide a sense of ownership over virtual items such as land, building and artwork, as they typically have their own virtual economy with their own currency. Examples of these worlds today include Second Life, Fortnite, Roblox, The Sandbox, Decentraland and Somnium.