Building Blocks for the Metaverse

Abstract

The term ‘metaverse,' was first coined in Neal Stephenson's 1992 novel “Snow Crash,” and has since been used to describe various types of virtual and augmented reality experiences. . The metaverse holds varying interpretations for different individuals. From its origins in science fiction literature to its recent rise to prominence in popular culture and the technology industry, the metaverse has captured the imagination of many. For some, it represents a virtual arena for socializing with friends, while others perceive it as a potential commercial arena for businesses and their clients. This chapter explores the concept of metaverse and its core building blocks. The chapter has three major sections: the first deals with an understanding of the emergence and concept of metaverse with a focus on virtual worlds, the second presents insight into the economy and commercial value generation by this new meta-era, and the third delves into the techniques and tools that enable the metaverse.