Definition of the metaverse

The metaverse is not a new concept; in fact, it has been around since Neal Stephenson coined the term in the 1992 novel Snow Crash. He described a virtual world where users would buy or sell virtual property, navigating the virtual world through the use of customizable avatars. Sounds terribly familiar, doesn’t it? Many of these ideas are present in the modern version of the metaverse.

So, using this model as a definition, we can consider the metaverse as a virtual environment where individuals can interact with each other in a reality similar to our own. Users can build this virtual life separate from their own reality.

Why should companies care?

Businesses are looking to the metaverse for the same reason they embraced the smartphone…