So, is the metaverse here yet or not? And what is the metaverse, anyway? Most of us have at least a vague sense of “the metaverse” being some kind of alternate digital world where people live out virtual lives – but what that looks like in practice also seems to be up for debate. The term “metaverse” is being applied to everything from virtual fashion shows to multiplayer online games like Fortnite and Roblox to augmented reality experiences.
McKinsey’s report makes a distinction between the “most basic” version of the metaverse, which the report authors state will have three features – “a sense of immersion, real-time interactivity, and user agency” – and the “full vision of the metaverse”, which will have “interoperability across platforms and devices, concurrency with thousands of people interacting simultaneously”, and “use cases spanning human activity well beyond gaming”.