Towards Future Internet: The Metaverse Perspective for Diverse Industrial Applications

Abstract

The Metaverse allows the integration of physical and digital versions of users, processes, and environments where entities communicate, transact, and socialize. With the shift towards Extended Reality (XR) technologies, the Metaverse is envisioned to support a wide range of applicative verticals. It will support a seamless mix of physical and virtual worlds (realities) and, thus, will be a game changer for the Future Internet, built on the Semantic Web framework. The Metaverse will be ably assisted by the convergence of emerging wireless communication networks (such as Fifth-Generation and Beyond networks) or Sixth-Generation (6G) networks, Blockchain (BC), Web 3.0, Artificial Intelligence (AI), and Non-Fungible Tokens (NFTs). It has the potential for convergence in diverse industrial applications such as digital twins, telehealth care, connected vehicles, virtual education, social networks, and financial applications. Recent studies on the Metaverse have focused on explaining its key components, but a systematic study of the Metaverse in terms of industrial applications has not yet been performed. Owing to this gap, this survey presents the salient features and assistive Metaverse technologies. We discuss a high-level and generic Metaverse framework for modern industrial cyberspace and discuss the potential challenges and future directions of the Metaverse’s realization. A case study on Metaverse-assisted Real Estate Management (REM) is presented, where the Metaverse governs a Buyer–Broker–Seller (BBS) architecture for land registrations. We discuss the performance evaluation of the current land registration ecosystem in terms of cost evaluation, trust probability, and mining cost on the BC network. The obtained results show the viability of the Metaverse in REM setups.