The Metaverse Just Collapsed

The metaverse was all the hype in 2021 but with a devastating financial year in 2022, the crypto market plummeted, taking down the metaverse with it.

The Metaverse Just Collapsed

(The metaverse is a vision of what many in the computer industry believe is the next iteration of the internet: a single, shared, immersive, persistent, 3D virtual space where humans experience life in ways they could not in the physical world.

Some of the technologies that provide access to this virtual world, such as virtual reality (VR) headsets and augmented reality (AR) glasses, are evolving quickly; other critical components of the metaverse, such as adequate bandwidth or interoperability standards, are probably years off or might never materialize.

The concept is not new: The term metaverse was coined in 1992 by author Neal Stephenson in his sci-fi novel Snow Crash, and work on the technologies that underpin a virtual reality-based internet dates back decades.

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