Metaverse

The metaverse—a term that is widely known and used by many people. Nevertheless, discussions often reveal that each user has their own individual understanding of what the term actually means. For this reason, it is essential to precisely define the term metaverse as well as all related concepts such as Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), and Extended Reality, and to examine them in detail.

The term “post-Internet era” is often used in reference to the metaverse. However, “post-Internet” does not denote a time after the Internet, but rather our current era, in which the Internet has become so ubiquitous and integrated into daily life that it is scarcely noticed by people. The metaverse represents an innovation that enables the creation of online spaces where users can interact with one another in multidimensional ways. Instead of merely consuming digital content passively, users are intended to become visitors to the metaverse, immersing themselves in a world where the digital and physical merge into an entirely new experience [SMA20]. Although the concept of the metaverse is still relatively new, it is fundamentally an evolution of augmented reality, virtual reality, and other related technologies. In contrast to these technological approaches, however, the metaverse offers a new space for play, movement, and interaction for humanity, advancing to a higher level of virtuality [JIA22].

During the presentation announcing the rebranding of the Facebook corporation to “Meta,” Mark Zuckerberg made a statement that sparked the hype surrounding the topic of the metaverse [BLU21]:

If the metaverse is viewed as an evolution of the Internet, its technical development can be traced back to 1968, when the ARPANET was created. However, the theory underlying the Internet, and especially today’s World Wide Web, has roots that go back even further [REDoJ]. As early as 1948, Vannevar Bush presented the theoretical concept of a networked information management and retrieval system in his article “As We May Think” in The Atlantic magazine [BUS45]. At that time, his considerations were still based on static documents, available in two-dimensional form as text and images. Nevertheless, Bush already recognized the necessity not only to store the documents themselves, but also to preserve the work performed on them for future research purposes. The user interface he outlined would still correspond to modern systems today, although the Memory Expander, or “Memex,” could not be technically realized at that time. Even so, the theoretical concept was revolutionary for its time.

The concept of the metaverse has evolved rapidly in recent years and can now be considered established, even though the term “metaverse” is arguably overused (see also Chapter 10—The Current Addendum 1—Still Relevant: Has the Hype Already Passed?). This establishment encompasses both its acceptance as a field of technological research and development, as well as its acceptance in business and society. Both technological advancements and economic investments have now ushered the concept into a new phase of relevance.

This chapter constitutes Addendum 1 in the first edition of this work. To illustrate the rapid pace of development, it will initially remain unchanged and will subsequently be compared with current developments at the end.

As a virtual world primarily based on advances in VR, AR, and blockchain technologies, the metaverse presents both opportunities and risks with respect to the physical world. One possible consequence of the increasing prevalence of the metaverse is a decline in real-world social interactions, as people may spend a significant portion of their time in this virtual environment. This could have negative effects on social relationships and mental health, including the neglect of physical health due to a lack of physical activity [ZUC13].

All discussions that engage with the metaverse, whether in a positive or critical manner, ultimately share a fundamental weakness that manifests itself in two distinct forms. On the one hand, these discussions remain superficial and fundamentally vague, as the metaverse is viewed as an all-encompassing and thus overwhelmingly large future construct. On the other hand, many discussions are based on isolated examinations of small and highly specific niches and use cases, which are not placed in any overarching context. Both perspectives share the same weakness: it is ultimately never precisely known what the metaverse will be, or more specifically, how the metaverse will be structured both technically and functionally. Nevertheless, both established national and international organizations as well as renowned experts from a wide range of disciplines are attempting to identify potential applications and use cases.

In light of rapid technological advancements and the growing significance of the metaverse, it is crucial to identify and leverage the opportunities offered by these virtual worlds at an early stage [KAU22, LAW22]. Even though technical standards are still lacking, Cathy Hackl’s statement remains both accurate and important: “Now is the time to build!” The metaverse continues to offer tremendous potential for creative collaboration, education, and social interaction—potential that is still waiting to be unlocked [DED09].

The mere use of the term “metaverse” has recently attracted significant attention in both industry and research. At the beginning of this year, it seemed unthinkable that the virtual space could exist without a metaverse. Numerous companies made substantial investments in establishing a presence in the metaverse, while countless start-ups emerged and the shares of companies such as Roblox and Matterport, which were already active in the metaverse, saw considerable increases in value. Recently, however (as of early May 2023), a certain sense of disillusionment appears to be setting in.