Three Key Challenges for Companies Entering the Metaverse

The term “metaverse” was coined by science fiction novelist Neal Stephenson in his 1992 dystopian thriller, “Snow Crash.” Stephenson’s metaverse allowed users to create almost limitless avatars and experience a new, virtual world firsthand, accessible through virtual reality goggles or “terminals.” Thirty years later, what was once science fiction is now reality. Immersive and interactive 3D digital worlds housed on a variety of virtual platforms are gaining in both prevalence and popularity—accessible through virtual or augmented reality goggles, smartphones, and computer screens. Each virtual platform, or metaverse, functions as its own world, with unique rules, currency, and user experiences.

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