What is the metaverse?

It is hard to define what the Metaverse is, because it could be anything and everything.
Most of what we think of right now when we think of the Metaverse is what we imagine it could be.
The metaverse is a gaming space. An immersive digital commerce space. It’s a place to work, to train. It’s an advertising channel that could be bigger than search and social media combined.
Right now, all anyone can agree on is that the Metaverse is a virtual space. Where people can spend time and money.

So if the metaverse is a virtual space, with almost limitless possibilities and applications, how do we conceptualize it?

The fact is it is impossible to define the metaverse, in the same way we define the internet. The act of defining it puts limits on something that may have limitless applications.

The one thing we do know about the metaverse is its core, shared features.

What are the core characteristics & features of the metaverse?

If the metaverse is the next version of the internet, how is it different? What makes the metaverse a leap forward?

The answer lies in the core features of what a metaverse experience is. Although it is still early days, the gaming space provides some clues on where things could go.

Gaming has been serving always-on immersive digital spaces for years now. From Minecraft, to Fortnite through to Warzone, gaming has been serving immersive spaces for a long time. These spaces also encourage interaction between users (though you may not want to talk to some of them).

So, how will the metaverse take this further? Here is a list of core characteristics and features that the iteration of the metaverse could have. From the initial, basic iteration that we will see first. All the way through to the more advanced forms of metaverse we will start to see in several years time.

Basic iteration metaverse characteristics & features
*An immersive, 3D space
*Customizable avatars
*Interaction between users
*Always-on and accessible
*User decision making & agency

Advanced metaverse characteristics & features for future iterations

*Availability across multiple platforms and devices
*Full AR & VR functionality (though the metaverse is not only VR & AR)
*AI (working as part of the experience and in support functions etc etc)
*Virtual “property” or “land”
*Features beyond gaming or interaction
*Work/meeting functionality
*Web3 support

It is important to address some of the confusion around Web3 and the metaverse. They are two different things. It is natural they get combined as they are both new paradigms that replace what we have. But the metaverse is about immersive experiences. Whether it’s centralized or decentralized does not matter. Web3 could overlap with the metaverse in many different ways, but it is not core to what the metaverse is, or could be.