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Technologies like virtual reality and augmented reality are combined in the metaverse to create a sense of "virtual presence." Not all of the projects highlighted here involve virtual reality, or decentralization, or cryptocurrency. Although those are all technologies that are likely to have a place in the metaverse, it isn’t strictly essential that they are part of every metaverse. A metaverse—we use "a" because the metaverse can have many iterations—is a virtual world that can be explored using different avenues, such as your computer, wearable technology, or mobile.

Smartphones are handheld devices that enable people to make phone calls, send text messages, and access the internet. The investment Meta is making in global research and program partners to build the metaverse in a responsible way. Then rumors began swirling in mid-October 2021 about a Facebook rebrand—complete with a new name—to embrace the company’s commitment to the metaverse. In July 2021, Mark Zuckerberg talked with journalist Casey Newton about the metaverse and the changes he envisioned for Facebook.

This allows for communities that are governed, built, and driven forward by their users, rather than by a single entity. Open source, which is the practice of making code freely available and able to be redistributed and modified at will. Regardless of degree or kind, open source as a principle is so essential to the development of a metaverse, that we’ve broken it out as its own separate ingredient despite the overlap with composability above. Zuckerberg addressed questions around the departure of Sheryl Sandberg, the company's operating chief. Sandberg built up Facebook's advertising business, making its 2012 initial public offering possible. The Wall Street Journal reported that she left after Meta began a review of her use of company resources for wedding planning.

Retail can extend its reach to an immersive shopping experience that allows for more complex products. A browser extension wallet for the Web 3.0 ecosystem, making it easy for you to access web applications on web browsers like Google Chrome. Provides on-chain transaction data of MST, MIT, Avatars and includes detailed mining and staking statistics.

This started out as a mobile game, which in 2018 was ported by its creators to the Ethereum blockchain, becoming one of the first Create a metaverse truly decentralized metaverse platforms. It includes its own object creation tools that allow anyone to build 3D items, characters, vehicles, or anything else they can think of, which are then minted as NFTs, and can be imported into other Sandbox worlds. These NFTs can also be traded and sold via the platform’s built-in marketplace. Assets and land are created as NFTs, and like Decentraland, transactions are carried out in the platform’s own currency, known as SAND. Sandbox is another platform that has proven popular with brands wanting to establish their metaverse presence – landowners include HSBC, Warner Music, PwC, and Paris Hilton. When Facebook founder Mark Zuckerberg renamed his company to Meta, it was a sign of how important he felt the metaverse concept would be to the future of digital communications, socializing, and living.