What is the Metaverse, How it Works, and How to Join

In the current digital age, the concept of metaverse has stopped being a futuristic hypothesis to become a concrete and constantly evolving reality. Initially born in the science fiction imagination, today it represents one of the emerging pillars of the digital economy and global socio-technological transformation. These are three-dimensional and persistent virtual environments, where users can interact, work, learn and consume in an immersive way, often through personalized avatars and virtual reality devices.

But how does the metaverse work in practice? How do you enter the metaverse and, above all, what can you do? Here is everything you need to know about a new technology that is transforming our world.

The metaverse in brief, the current situation

Today, the metaverse has taken on an increasingly complex and relevant meaning. According to the latest report by McKinsey & Company, the potential value of the metaverse market could exceed 5,000 billion dollars by 2030, with applications ranging from e-commerce to training, entertainment, health and smart working. In parallel, Gartner estimates that by the end of 2025 at least 20% of the world’s digital population will spend at least one hour a day in metaverse environments for work, leisure or socializing.

This transformation is fueled by the convergence of advanced technologies such as virtual reality (VR), augmented reality (AR), blockchain, artificial intelligence (AI) and 5G connection. These tools allow for the construction of immersive, scalable and decentralized experiences, profoundly modifying the paradigms of online interaction. It’s no surprise, then, that several tech giants are investing billions of dollars to build their version of the metaverse.

Meta (formerly Facebook) has announced investments of more than $100 billion over the next few years to develop its Horizon Worlds platform. Microsoft has enhanced its Mesh suite integrated into Microsoft Teams for mixed reality collaboration, while Apple has launched new immersive XR (Extended Reality) devices centered around its Apple Vision ecosystem. At the same time, companies like Epic Games with Fortnite, Roblox Corporation, and Nvidia with the Omniverse initiative are redefining the user experience in gaming, collaborative 3D content creation, and industrial engineering. The luxury, art, and fashion sectors have also begun to exploit digital spaces: brands like Gucci, Balenciaga, and Nike have already opened exclusively virtual flagship stores and collections, often with NFT support.

It is no longer just about “playing in a virtual world”: the metaverse is now configured as a significant extension of our real life, with concrete implications for digital identity, the ownership of virtual goods, and the possibility of developing new economies. The emergence of decentralized business models, managed by communities through DAO (Decentralized Autonomous Organizations), offers innovative scenarios also from the point of view of governance and democratic participation in digital environments. Therefore, it is legitimate and strategic to ask ourselves today some fundamental questions about the metaverse.

What is the metaverse? Meaning and definition in simple words

The metaverse can be defined, as mentioned, as a three-dimensional space within which physical people can move, share and interact in a more direct and immediate way than common social networks. This virtual living environment overlaps with the physical world of real life; activities within the metaverse are immersively engaging, erasing the spatial limits of the real world.

The term "metaverse" comes from the combination of the words "meta", which means "beyond", and "universe". Coined by writer Neal Stephenson in 1992 in the novel Snow Crash, the concept refers to a shared three-dimensional virtual environment, accessible via the Internet, where users interact with each other and with digital environments through digital representations of themselves known as avatars.

The virtual expansion of the real world is accessible through technological and wearable devices, such as smart glasses, virtual reality helmets and visor, gloves and tactile suits. A digital world where virtual reality is deeply connected to the web and where people can live a parallel life to that of the real world. But let’s not fall into the error of thinking that the metaverse and virtual reality are the same thing. To be clear, the metaverse is virtual reality projected onto the network and shared by many people at the same time. In the metaverse, you can assume your own identity or a new digital identity, come into contact with other people and things, and carry out social activities. Live a second parallel life, like in a huge video game.

How the Metaverse Works

The how the metaverse works is based on the integration of different advanced technologies that work together to create immersive and interactive digital experiences. To use, interact and perform actions on most of these platforms, however, you need a crypto wallet and cryptocurrency.

To live the full experience of the metaverse a PC or a smartphone are not enough: the processing power may be too limited to manage entire universes with millions of users populating it. This is why accessing the Facebook universe, for example, requires special tools such as helmets or augmented reality glasses. To ensure a seamless experience, the metaverse is based on open standards that allow interoperability between different platforms and services. This allows users to transfer digital identities and virtual goods between various environments seamlessly.

The low latency and high data rates enabled by technologies like 5G and broadband networks are critical to supporting immersive experiences in the metaverse. 3D modeling and artificial intelligence play a crucial role in making environments and interactions within the metaverse more realistic and personalized, opening up new frontiers for human interaction and the digital economy.

How to Enter the Metaverse

You don’t necessarily need a virtual reality (VR) headset to access the metaverse, although one can significantly enhance the immersive experience. However, for those interested in fully exploring these digital realities, it’s a good idea to consider purchasing a VR headset suited for the specific metaverse you’re interested in. Here’s a step-by-step guide to get you started.

1. Choosing a Platform - There are a variety of platforms that offer access to the metaverse, each with their own unique features. Some of the most popular include:​
   1. Decentraland: A decentralized blockchain-based platform that allows users to buy, sell, and build on virtual land;
   2. The Sandbox: A virtual world that allows users to create, own, and monetize gaming experiences;
   3. Horizon Worlds: A platform developed by Meta that offers immersive social environments.​
2. Create an Account - Registering on a platform typically requires creating an account, providing an email address, and choosing a username. Some platforms offer the option to log in with a Google or Facebook account.
3. Set Up an Avatar - After registering, you can create a custom avatar that will represent you in the metaverse. Personalization options vary from platform to platform, allowing you to choose physical features, clothing, and accessories.​
4. Connect a digital wallet (optional) - To make financial transactions, such as purchasing virtual goods or digital land, you must connect a compatible digital wallet, such as MetaMask. This step is optional if you want to explore the metaverse without making purchases.
5. Log in with a compatible device - The metaverse is accessible through a variety of devices:​
   1. desktop or laptop computer: Most platforms offer versions accessible via web browsers;
   2. VR headsets: Devices such as the Meta Quest 3 or HTC Vive offer fully immersive experiences;
   3. smartphone or tablet: Some platforms offer mobile applications for on-the-go access.​ By following these steps, you can start exploring the metaverse, participate in virtual events, interact with other users, and discover the many opportunities offered by this new digital environment.

What can be done in the metaverse: some examples to understand

Metaverses can create their own tokens (virtual currencies or NFTs), their own governance and their own economy. The metaverse can expand the possibilities of technology in reducing the limits of time and space.

Let’s imagine, for example, that we have seen an ad for a house for sale and want to visit it, but it is in another city or even country and we can’t be there in a short time. Well, our avatar can meet the avatar of the real estate agent in the metaverse and see the perfect virtual representation of the apartment, without having to move from our office or our sofa.

It is likely that in the future the possibilities of the metaverse will be unlimited, but what can we do today? Platforms like The Sandbox and Decentraland perhaps offer the best example of how the metaverse and a cryptocurrency and blockchain economy could work.

Gaming and Entertainment
In the gaming industry, the metaverse offers immersive experiences that transform the way users interact with games. Platforms like Roblox and Fortnite have become pioneers in this space, with live events and virtual concerts that attract millions of viewers. Notable examples include virtual performances by artists like Ariana Grande and Snoop Dogg, who have pioneered new forms of entertainment in the metaverse.

Gaming companies are capitalizing on these opportunities to create games that not only entertain, but also promote social interaction and community building. Let’s also think about games like Minecraft, Roblox and Second Life, which are the closest representation to the concept of the metaverse today thanks to their creator-driven economy and vast sandbox world. People can live in the game, buy virtual goods and land, build houses, earn coins and participate in events.

Education and training
The metaverse is also revolutionizing the field of education and training, offering immersive ways of learning. With the use of virtual reality (VR) and augmented reality (AR), students can participate in virtual lessons that simulate real experiences, such as visiting the Egyptian Museum or witnessing historical events.

These technologies enable a form of "learning by doing" that improves engagement and retention of information. In addition, the metaverse facilitates professional training, allowing students to experiment with complex or dangerous procedures in a controlled and safe environment.

E-commerce and Retail
E-commerce in the metaverse, or "m-commerce," is transforming the way we shop. Brands like Nike and Gucci have created virtual stores where avatars can purchase digital products with virtual currencies. This new dimension of commerce not only increases sales, but also improves brand awareness and customer loyalty.

Shopping experiences in the metaverse combine digital and physical elements ("phygital"), offering a richer and more engaging user experience that goes beyond traditional online interactions.

Is Investing in the Metaverse Possible? How to Do It?

Investing directly in the metaverse is a growing opportunity due to the popularity and expansion of this technology. Companies and investors are exploring ways to capitalize on these new virtual platforms. Stock market participants can invest in publicly traded companies with metaverse-related business models or projects, such as Meta, Microsoft, Roblox, Unity, and Nvidia, to name a few. Or you can play NFT-based games (for example Axie Infinity), or buy and sell virtual real estate on Decentraland and The Sandbox.

Another strategy is to buy cryptocurrencies tied to the metaverse (also called metaverse token or metaverse crypto), in the hope that the project they are tied to will catch on, which would make them more used and increase demand, increasing their value with the same supply. There are many opportunities opening up in this sector.

• Investing in metaverse companies and technologies: Many high-profile companies, such as Meta (formerly Facebook), Microsoft, and Nvidia, are actively developing technologies and applications for the metaverse. Buying shares in these companies can be a direct way to invest in this growing sector.
• Buying land and digital assets: Platforms like Decentraland allow users to buy virtual land that can increase in value over time. These lands can be developed or resold at higher prices, offering a financial return.
• Cryptocurrencies and NFTs: Investing in cryptocurrencies and non-fungible tokens (NFTs) that are specifically tied to the metaverse can offer another avenue for investment. Tokens like Decentraland’s MANA and others tied to metaverse games and platforms are gaining popularity and can represent a significant investment.
• Crowdfunding and Startups: Participating in the funding of innovative startups that develop technologies or applications for the metaverse can be an early entry into this market. Crowdfunding offers the possibility of supporting early-stage projects with high growth potential. However, it is essential to consider regulatory aspects and have strategic planning before investing in the metaverse. This includes understanding the market dynamics, the technologies involved, and the potential legal and security challenges.

Through these methods, investors can take advantage of the various opportunities that this "new universe" offers, both in the short and long term.

How to Create a Metaverse

Creating a metaverse is a complex but accessible process, involving the development of virtual environments, immersive user interfaces, and robust technological infrastructures. Today, thanks to the evolution of technologies, it is possible to develop a metaverse with open source tools, cloud services, no-code development platforms, and blockchain. Here is a detailed, step-by-step overview of the process.

Define the purpose and audience of the metaverse
Before starting, it is essential to clarify the goal of the metaverse:

• does it want to be a platform for gaming, training, business collaboration, or socializing?
• who is it aimed at? (Students, professionals, gamers, digital artists?) This phase guides the subsequent technological, graphic, and functional choices.

Choosing a development platform
There are two main options:

• Advanced graphics engines such as:
  • Unity 3D: widely used for VR/AR games and environments;
  • Unreal Engine: ideal for high-definition graphic metaverses.
• No-code/low-code solutions such as:
  • Webaverse or JanusXR: tools for building web-based 3D worlds;
  • Mozilla Hubs: open source, accessible directly from a browser. These tools allow the creation of virtual spaces even without advanced programming skills.

Building the virtual environment
Once the tool has been chosen, the environment can be designed:

• 3D modeling of spaces, objects and scenography (with software such as Blender or SketchUp);
• creation of personalized avatars and interactive animations;
• UI/UX development to make navigation intuitive. The experience must be immersive, seamless and accessible, across multiple devices (VR, desktop, mobile).

Implementation of enabling technologies
To function as a true metaverse, the platform must integrate:

• virtual and augmented reality (VR/AR);
• AI and machine learning for automations and NPCs (virtual characters);
• Blockchain to authenticate digital assets and transactions;
• digital identity systems: often based on crypto wallets or decentralized profiles (such as DIDs). Many metaverses use standards like WebXR for immersive web experiences and Ethereum or Polygon for managing virtual assets

Creation and management of the virtual economy
The economic aspect is essential for the sustainability of the metaverse. It is necessary to implement:

• Tokenomics: issuance and circulation of tokens (fungible or non-fungible);
• Marketplace: to sell/buy digital assets (NFTs, game items, avatar accessories);
• Smart contracts: they automate transactions, ensuring security and transparency. Commonly used cryptocurrencies include MANA (Decentraland), SAND (The Sandbox), and custom tokens on EVM networks.

Testing, Publishing and Maintenance
After development, you will need to follow the steps required for publishing.

• Testing phase: checking stability, compatibility and security.
• Deployment on cloud: solutions such as AWS, Azure or IPFS to decentralize content.
• Continuous maintenance: patches, updates, technical support and community management. A good practice is to create a DAO (Decentralized Autonomous Organization) to manage community decisions and stimulate active participation.

Original article published on Money.it Italy. Original title: Cos’è il metaverso, come funziona e come entrare