What is metaverse?
Look, if we’re not already living in a simulation, it seems we will be eventually. We all knew that though, right?
Facebook’s name change likely invokes readers with the thought of either a utopian society or... the Netflix series Black Mirror. It's all about perspective though.
But seriously, what the heck is the metaverse, and what does it mean for us as investors and curious folk?
- The metaverse is: It’s a portmanteau of the words meta and universe. The implied meaning is essentially the blending of reality and the internet by way of virtual spaces that are interconnected, and a place where people can interact for countless purposes. Imagine being able to walk on the moon, watch your favorite sports game, or go shopping at the mall or even to school. Think immersive virtual experience.
- This isn’t new: Facebook has been dabbling in this for a while, as you’ve likely seen their controversial VR (virtual reality) boardroom application already, but there’s more where that came from. Gaming companies like Roblox and Epic Games already offer metaverse experiences (e.g., games, virtual concerts), with big tech companies and gaming companies already building out their platforms.
- Investing: The VR sector has an expected CAGR of over 45% for the next 6 years, with an expected market size of $84 billion by 2028. And by then, it'll still be considered a nascent industry.