Welcome to the Metaverse
Scott Shackelford, Michael Mattioli, Jeffrey T. Prince, João Marinotti · 2025
Abstract Chapter 1 explores the concept of the Metaverse, tracing its origins and implications. It begins with the initiative to define the “Yuanverse,” emphasizing regulatory influence in digital environments expressed by Chinese officials. The chapter delves into the historical context of the Metaverse, linking it to sci-fi literature, like William Gibson’s “cyberspace” and Neal Stephenson’s Snow Crash. It distinguishes the Metaverse as an immersive extension of cyberspace, driven by virtual and augmented reality. Emphasizing characteristics of the Metaverse, this chapter examines commercial and technological aspects of it, including major corporate investments and market dynamics post-2022 crypto crash. Addressing critical questions on viability, it scrutinizes the “Metaverse bubble,” navigating issues of feasibility and inflated expectations. Despite challenges, authors highlight the allure of immersive virtual worlds and their transformative potential. Through a comprehensive exploration of the Metaverse, the chapter sets the stage for subsequent discussions on its societal, economic, and ethical dimensions.