Taxonomy, components, applications, and open challenges.
In today’s society, social media has been the pre-dominant way socializing and even conducting business. In the 1950’s to 1980’s Virtual Reality (VR) was conceptualized to let end-users experience a more immersive means of playing simulation games. VR has vastly improved in our current state of technology, with the combination of hardware and software advancements, Artificial Intelligence (AI) and Augmented Reality (AR) it became capable of delivering high-definition graphics while being packaged in a headset connected to a computer or even standalone. Metaverse is an immersive virtual world on the internet facilitated by AI and AR. Unlike VR, this 3D virtual world lets a person exist and interact with other people on the platform even when offline. Metaverse is gaining popularity due to its availability on mobile devices such as smart phones and tablets. This new platform is different from VR because in metaverse, the users can customize contents through coding, which made it a sustainable platform for socializing and creating a new financial world with the addition of cryptocurrency.