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Is the metaverse the future of the internet or just an overhyped concept?

Summary

Depending on who you talk to, the metaverse is either a utopia or dystopia. First, however, worth noting this definition from the Conversation What is the metaverse?:
The metaverse is a network of always-on virtual environments in which many people can interact with one another and digital objects while operating virtual representations – or avatars – of themselves. 
Some say it's overhyped and won't get off the ground. Others, however, say it is an inevitable future. But is it the successor to the internet that some are claiming? Key points to note are:
  • Think of the metaverse as a convergence of many existing parts of the Internet, including various clouds, online gaming environments, and social-media etc.
  • Facebook's Mark Zuckerberg recently shared a new, ambitious vision for the company where the overarching goal of all the company's divisions would 'help bring the metaverse to life'.
  • Zuckerberg imagines a virtual environment where users (via digital avatars) could interact with each other in real-time. He recently launched a new virtual reality (VR) app where users choose a cartoon avatar and then sit at a virtual conference room having virtual meetings with co-workers. 
Not everyone is sold on the idea. Some believe the metaverse will be an expensive failure, or if it works, it could make life worse, not better.