According to Wikipedia, “metaverse” is defined as “a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality and augmented reality headsets.” 

Forgive me if I’m wrong, but hasn’t the term “cyberspace” defined the same concept since William Gibson wrote “Burning Chrome” in 1982? Check your Wikis again. Except for an esoteric art collective in the ’70s having naught to do with digital spaces, the popular concept of “cyberspace” has always described “a widespread interconnected digital technology…dating back from the first decade of the diffusion of the internet” and refers to the online world as “a world apart,” — distinct from everyday reality.

Not to seem obtuse, but isn’t the only difference then that instead of plugging a stereo jack into the back of our heads, we are—for now—using goggles and handsets?

Perhaps the term “metaverse” would be better used to describe the reality of a digital multiverse where many smaller digital landscapes exist. Why the distinction? Well, primarily because what is needed isn’t a fight for brand supremacy, a virtual version of the fight for market dominance, as witnessed between Apple and Microsoft and continues until now. What is needed now, today, up front, is a way for these separate virtual reality (VR) landscapes — metaverses — to work together. 

Source: https://venturebeat.com/virtual/whos-running-this-metaverse-anyway/