Since Facebook rebranded to Meta late last year, every industry seems to have attached itself to the metaverse. However, the language around different ‘metaverses’ in various industries gets confusing. We do not yet have a shared imagination for the metaverse and the technology required to build it.
Virtual worlds that could be considered metaverses have existed in gaming for some time. The computer game Second Life, for example, has built “an enduring community of millions who are ‘living’ together in virtual spaces.” Clearly, the idea is not new. The current metaverse hype cycle has revolved around marketing from big tech players. Each of these companies wants to steer the conversation toward its technology. Meta owns VR headset developer Oculus, so it makes sense that its buzz around the metaverse will push its customers to buy more headsets.