Metaverse kindled the imagination of techies in 2021 when Facebook declared an investment of $ 100 billion into it. In 2022, Facebook’s metaverse division lost $3.7 billion, and there were concerns about its future. Is metaverse a hype or has it got transformative potential?

In effect, metaverse can be compared to the evolution of AI over the years. AI existed several decades ago, and there was no realisation about its potential. However, it acquired legitimacy only when associated technologies and internet capabilities matured over the next three decades.

Metaverse at present has not enabled free interaction for everyone, and be in full control. It has enabled decentralised communities and their experiences of the virtual world. These can be downloaded from multiple sites.

It will take time to overcome these limitations. Yes, but even as it exists today, metaverse redefines experiences for the first movers.

Some companies have added metaverse capabilities to their sites. It enables a visitor to don different avatars to interact with the organisation.

Recruiters could interact with the job seekers. They can take them on virtual tour. It is a unique immersive experience for them. Metaverse can be used for training and upskilling.