Indian corporates have been investing in metaverse and related technologies. However, metaverse could become successful if it is affordable, regulated, safe and secure. Every industry will have its own unique criteria to adopt metaverse.

Metaverse, by definition, is 3-D shared space created by convergence of virtually enhanced physical and digital reality. A complete metaverse will be device-independent. It will not be owned by a single vendor. It will be a virtual economy itself powered by digital currencies and NFTs.

What comes in the way of metaverse adoption? Data privacy, interoperability and digital immaturity are impediments in the adoption of metaverse. There is limited understanding of the technology. What is currently being marketed as metaverse has no interoperability with respect to products and services. There are harassment hacking and data breach threats. The participants could show offensive behaviour. The cost of hardware is high — ocular glasses, haptic suites etc.

Wider adoption depends on the ability of the platforms and communities governing it to ensure safe and secure experience.

The regulation and laws can shape the adoption of technology.

There could be phases in the evolution of metaverse — emerging, advanced and mature. India has just seen the emerging phase. These are the precursors represented by the available resources — social networks, online games, e-commerce, cryptos and NFTs.