The metaverse hype is over, but the industry is not standing still. Dozens of metaverse startups like Futureverse raised millions of dollars when the metaverse was no longer making waves. While Zuckerberg’s corporate metaverse turned out to be a disaster and a source of countless memes, other companies found more reasonable niches with a real interest in this innovative technology.

To back our claims that the metaverse is very much alive, we curated an extensive list of metaverse examples in real life. We combined our expertise as a metaverse development company with profound market research to show you a broad spectrum of metaverse applications across industries.

In this article, we’ll explain the metaverse in simple terms, describe how big names are experimenting with it, and what services are emerging around it. Let’s go!

What is metaverse?

The metaverse is a concept of a 3D virtual world that allows people to self-express themselves, explore, and co-create this space full of different real-life and truly digital experiences like shopping, learning, playing video games, socializing, collaborating, watching streamed content, and earning.

The metaverse is still taking shape, so it’s difficult to define it clearly. Ideally, it has to be an interoperable network of different 3D worlds where thousands of people can interact simultaneously.

“We see the metaverse as this myriad of virtual worlds that anyone can access through an avatar — that’s digital identities or 3D characters — that becomes our representation of ourselves into those virtual worlds that are more social, more immersive and more creative thanks to technology,”

What we have now looks more like early metaverse prototypes existing separately. For example, we have Decentraland, Axie Infinity, The Sandbox, and Fortnite Creative. All these are different metaverse games that are not connected.

However, Decentarland has already made the first steps towards interoperability, allowing its players to add external NFT collections as linked wearables. Being an NFT owner is way more exciting when you can actually wear it and show it off right in the game.

Another distinctive feature of the metaverse is that it is always on. No matter when you join the virtual world, multiple things are happening there concurrently.

“One thing that sets a metaverse apart from the conventional internet is that it always has other people there. When you go to a conventional website to do shopping or to read news, there is nobody else there with you. In a metaverse, experiences that we would like to realize there, like a college classroom or a live music event, require us to enable hundreds or even thousands of people to be there near each other with sight and sound of each other,”

The metaverse is also often associated with virtual reality (VR) headsets or augmented reality (AR) goggles because these devices help provide more immersive experiences. At the same time, present-day metaverse projects do not necessarily require VR/AR support.

The metaverse is often regarded as the next iteration of the internet. That’s why modern metaverse platforms are usually built on web3 technology. Still, web2 metaverse products are being developed, too. Let’s look at the difference between them.

Criteria

Examples

Crypto payments

Trading

Creative authorship

Asset ownership

Web2 Metaverse

Second Life, Horizon Worlds, Roblox

no

controlled by a third party

hard to prove

lost if a game is abandoned or the player is banned

Web3 Metaverse

Decentraland, The Sandbox, Alien Worlds

yes

peer-to-peer

immutable

items are tokenized and stored in the user’s crypto wallet

Criteria

Examples

Crypto payments

Trading

Creative authorship

Asset ownership

Web2 Metaverse

Second Life, Horizon Worlds, Roblox

no

controlled by a third party

hard to prove

lost if a game is abandoned or the player is banned

Web3 Metaverse

Decentraland, The Sandbox, Alien Worlds

yes

peer-to-peer

immutable

items are tokenized and stored in the user’s crypto wallet