In the world of tech buzzwords, “metaverse” has been topic of discussion, largely understood and misunderstood. It comes, goes, and comes again in new shapes and forms, definitions and understanding. The term has been around for three decades and is poised to continue its evolution. In the past, it has been defined to suit the narratives of organizations and individuals alike. Some see it as a game, others as a virtual world, while some view it as a tool for global connection and collaboration.

Metaverse is the next Internet, that’s what we summarized it in the previous article. We discussed it’s characteristics and building blocks. In this article we will discuss some prominent use cases of the metaverse. We understand the metaverse as a trillion dollar opportunity in the next few years. It is growing at real fast speed, but without effective rules and regulations, without effective standards and practices, and we will also touch upon this concerning part of metaverse.

Metaverse is the most enquired word after Facebook renamed itself to “Meta” to align to their metaversal vision. However, the term “metaverse” was coined 3 decade ago by Neal Stephenson, in his 1992 science-fiction novel “Snow Crash,” which envisions a virtual reality-based successor to the internet. In the novel, people use digital avatars of themselves to explore the online world, often as a way of escaping a dystopian reality. Today, Metaverse is being considered as a $800 billion path with double digit growth in next 5 years, where industry is trying to get most out of it by co-creating with communities, and focusing on it’s cost-effective universal acceptance.