Companies are pouring money into 3D digital environments that can be explored via avatar. Here’s why they’re here to stay.
The term metaverse was coined by American writer Neal Stephenson in his 1993 sci-fi hit Snow Crash. But what was far-flung fiction 30 years ago is now nearing reality. At Facebook’s most recent earnings call, CEO Mark Zuckerberg announced the company’s vision to unify communities, creators, and commerce through virtual reality: “Our overarching goal across all of these initiatives is to help bring the metaverse to life.”