A Comprehensive Review of Metaverse: Taxonomy, Impact, and the Hype around It

Abstract

: There has been widespread interest in the concept of the metaverse in recent years. The aim of this comprehensive review paper is to provide an in-depth analysis of the taxonomy, technological foundations, and historical evolution of the metaverse. The study explores both the positive and negative dimensions of the metaverse, including ethical dilemmas, using a robust analytical framework. In addition to studying the metaverse’s impact on various sectors of society and the economy, this study offers an insight into how it will develop in the coming years. A notable highlight is the exploration of the estimated revenue forecast for metaverse money-making, projecting a substantial 40 billion USD by the 2030s. Further, the paper examines cyberbullying within the metaverse, shedding light on the unique challenges it poses. The hype surrounding the metaverse has also been analyzed, as well as its implications for the broader technological landscape.