Some investors believe that the metaverse, which blurs the lines between the physical and digital worlds with virtual reality (VR) and augmented reality (AR) applications, could become the next great computer network and eventually replace the Internet. So instead of making simple video calls, we can hang out with our friends and family with virtual avatars. Mobile apps could become virtual game-like experiences, while e-commerce platforms could lure shoppers into their virtual storefronts to make real-world purchases.

Those ideas may sound fanciful, but the global metaverse market could still grow at a compound annual growth rate (CAGR) of 47.6% between 2022 and 2029, according to Fortune Business Insights, as technology improves and more companies embrace it. They get on the train. If you…