Technology

As Meta pushes for the metaverse, it may be a better fit for some, not all

In true technical style, there is no single universally accepted definition of the metaverse. Simply put, the metaverse is a vast network of 3D worlds and simulations rendered in real-time for cooperation and participation. This is not a virtual reality experience or a virtual economy with avatars sticking out, but a way to maintain identity, objects, payments, history, and ownership continuity. The metaverse market may reach $783.3 billion in 2024 versus $478.7 billion in 2020, representing a compound annual growth rate of 13.1%, based on studies by Bloomberg with data from Newzoo, IDC, PWC, Statista, and Two Circles.

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