The Metaverse is a three-dimensional virtual environment that operates in much the same way that the real world does in terms of social and economic activity. It may be classified into two types: centralized and decentralized metaverses. Large firms like Facebook, Epic Games, and the Roblox organization focus on the centralized metaverse. In the simplest of nutshells, the metaverse is “a whole new 3D interactive internet,” according to Faisal Galaria, chief executive officer of Blippar, which creates augmented reality experiences for brands and retailers, including projects with Net-a-porter and Boohoo. Many aren’t convinced they want to invest in the metaverse but are happy to “try before they buy.” These can include commercial ventures, which could be very profitable via virtual tenants.
According to Mark Zuckerberg the metaverse is not just the next chapter of his company: it’s the next chapter of the internet. There are a lot of questions about what role Meta, the company formerly known as Facebook, should play in building that future. On the contrary Meta’s Vice President of metaverse, Vishal Shah, debates that the company has learned from its struggle to moderate content on Facebook, and will build safety and privacy into the metaverse. Zuckerberg also previously described how the defining quality of the metaverse will be a feeling of presence with another person in the “ultimate dream of social technology”.
