Explainer-What is the "metaverse"?
Send a link to a friend
[October 18, 2021] LONDON
(Reuters) - Facebook said on Monday that it will hire 10,000 people in
Europe to help it build a "metaverse".
The concept of the metaverse is quickly becoming a buzzword in
technology and business. But what does it mean?
WHAT IS THE METAVERSE?
Metaverse is a broad term. It generally refers to shared virtual world
environments which people can access via the internet.
The term can refer to digital spaces which are made more lifelike by the
use of virtual reality (VR) or augmented reality (AR).
Some people also use the word metaverse to describe gaming worlds, in
which users have a character that can walk around and interact with
other players.
There is also a specific type of metaverse which uses blockchain
technology. In these, users can buy virtual land and other digital
assets using cryptocurrencies.
Many science fiction books and films are set in fully-fledged metaverses
- alternative digital worlds which are indistinguishable from the real
physical world. But this is still the stuff of fiction. Currently, most
virtual spaces look more like the inside of a video game than real life.
![](http://archives.lincolndailynews.com/2021/Oct/18/images/ads/current/fcs_funeral_lda082613.png)
WHY IS IT TAKING OFF?
Fans of the metaverse see it as the next stage in the development of the
internet.
At the moment, people interact with each other online by going to
websites such as social media platforms or using messaging applications.
The idea of the metaverse is that it will create new online spaces in
which people's interactions can be more multi-dimensional, where users
are able to immerse themselves in digital content rather than simply
viewing it.
The accelerated interest in the metaverse can be seen as a result of the
COVID-19 pandemic. As more people have started working and going to
school remotely, there has been increased demand for ways to make online
interaction more lifelike.
[to top of second column] |
![](../images/101821PIX/2021-10-18T111119Z_1_LYNXMPEH9H0LA_RTROPTP_4_AUCTION-NFT-DIGITAL-ART_small.JPG)
Visitors are pictured in front of an immersive art installation
titled "Machine Hallucinations — Space: Metaverse" by media artist
Refik Anadol, which will be converted into NFT and auctioned online
at Sotheby's, at the Digital Art Fair, in Hong Kong, China September
30, 2021. REUTERS/Tyrone Siu
![](http://archives.lincolndailynews.com/2021/Oct/18/images/ads/current/graue_preowned_101121.png)
WHO IS GETTING INVOLVED?
The idea of the metaverse is attracting a lot of interest from investors and
companies who are keen to be part of the next big thing.
Facebook CEO Mark Zuckerberg said in July that the company will try to
transition from being a social media company to a metaverse company in the next
five years or so.
The term is popular in Silicon Valley, with Microsoft also having mentioned
converging the digital and physical worlds.
The popular children's game Roblox, which had its New York Stock Exchange debut
in March, describes itself as a metaverse company. Epic Games' Fortnite is also
considered to be part of the metaverse.
Musicians can do virtual concerts within these platforms. For example, in
September millions of people watched the singer Ariana Grande virtually perform
in Fortnite, Epic Games said.
The world's biggest fashion companies have also experimented with making virtual
clothing, which people's avatars can wear in metaverse environments.
(Reporting by Elizabeth Howcroft; editing by David Evans)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
![](http://archives.lincolndailynews.com/2021/Oct/18/images/ads/current/state_bank_lda_PPP_2021.png) |