There has been a lot of talk lately about the metaverse. Especially after Facebook decided to change the name of its holding company to Meta Platforms and declare that its future lay in the metaverse. Investors have not been very convinced: Meta's share price has fallen sharply in the last month, after announcing 2021 results that were below market expectations.

The former Facebook employee insists that the metaverse will be one of the main drivers of growth for the company. But what is the metaverse? Technology consulting firm Gartner defines the metaverse as a collective virtual open space, created by the convergence of physical and digitally enhanced reality. It is physically persistent and provides enhanced immersive experiences. It requires multiple technologies and trends to function, including augmented reality (AR), flexible working styles, head-mounted displays (HMDs, such as Oculus), the Internet of Things, 5G, and artificial intelligence.

"The metaverse will allow people to replicate or enhance their physical activities. This could happen by transporting or extending physical activities into a virtual world or by transforming the physical world," says Marty Resnick, vice president of analysis at Gartner. "Although the goal of a metaverse is to combine many of these activities, there are currently many individual metaverses with limited functionality."

Gartner projects that by 2026, 25% of people will spend at least one hour a day in the metaverse, whether for work, shopping, learning, socializing, or entertainment. However, it clarifies that adoption of the metaverse is still in its early stages.

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