What Is The Metaverse?
The metaverse is a three-dimensional, synergetic virtual space that offers an immersive experience that goes past the limitations encountered in the physical world. It is a virtual realm where people can have the digital facsimile of themselves, engage in every day activities, free of any physical boundaries.

Key Concepts In The Metaverse

• Data - raw information in need of capturing, gathering and compiling with the purpose to be translated to valuable business insights. Example: The metaverse relies - among other technologies such as AR, VR, HMD, IoT, 5G, AI - on digital twins that are constantly updated with data used to create a digital representation that accurately reflects the physical infrastructure. To create an accurate representation, data should be precise and truthful.
   

• Interoperability - ability of a system to work with or use the parts or equipment of another system. The metaverse allows users to combine technology and reality via the use of XR, AR, MR and VR - and other access points such as computers, tablets and mobile devices. Interoperability enables this experience by providing improved continuity. Example: Think of a digital object and how it stands between various virtual worlds, regardless of how distinct they may be. To enable a simulated experience, the metaverse requires continuity which essentially translates to the ongoing existence of one's digital representation (i.e., avatar) and the virtual premise within which it exists.
   

• Digital Twin - a virtual model designed to accurately reflect a physical object. Example: Tesla creates a digital simulation of its cars via the use of sensor-collected data.
   

• Spatial Computing - the digitization of activities of people, objects, and the environments within interactions happen. In manufacturing, digital twins can be built for production lines, assets and any other real world scenario within a mapped production process. Example: VR Headsets, AR Glasses and Hybrid Gear.
   

• Web 3.0 - the user interface (the next evolution of the world wide web) that provides access to documents, applications and multimedia on the internet. Example: Obsidian Secure Messenger - it belongs to the platform Obsidian Platform based on Blockchain and is available for Android devices. Its interface is similar to a chat room yet users are also able to exchange tokens that can be contacted.

​Metaverse Real Estate And Popular Suppliers

• Users can buy and use metaverse real estate for a multitude of purposes. They are configurable and can be bought as non-fungible tokens (NFTs) and used for gaming, socialization, events and a variety of interactive experiences.
   

• Given the nature of NFTs, the metaverse presents a key advantage, that of proof, as transactions are public records. Metaverse real estate can be purchased either through the platform’s marketplace or via a third party platform. The majority of metaverse real estate is currently owned by the Big Four, namely: Decentraland, Sandbox, Somnium Space and Cryptovoxels.

Metaverse Market Size Over Time
The global metaverse market is expected to surpass approximately $1.3 trillion by 2030 spanning from 8-46% in 5 regions (Precedence Research).