The term “metaverse” has gained traction worldwide lately, especially after Facebook Inc. was renamed Meta Platforms, Inc. (FB). The metaverse is a virtual universe, a “mirror world” powered by augmented and virtual reality headsets that enable users to engage with content, interact with other users, and experience almost anything in a virtual realm.
The metaverse has been gaining traction with the growing popularity, scope, and availability of cryptocurrencies and blockchains. According to ReportsandData, the global metaverse market is expected to reach $872.35 billion, growing at a 44.1% CAGR.
