History of the Metaverse
Advances in web technologies and engineering book series · 2023
Metaverse is a futuristic concept combining various technologies, including computer infrastructure, gaming, NFTs, DeFi, AR/VR, AI, and the spatial web. More than 600 companies are building metaverses, estimated to be a US$13 trillion market opportunity by 2030. However, there is yet to be a consensus on what it is. It will be immersive and persistent, combining virtual and physical worlds with an economy and value that can be earned, lent, borrowed, and extracted from the physical world. Some challenges remain, including interoperability, latency, user interface, and regulation. This is arguably one of the most exciting technological developments, which will help create new and enhanced ways to live, shop, be entertained, seek services, and be educated. This chapter introduces the key elements of the Metaverse and outlines challenges and ethical questions as the world becomes more immersive.