Ready For The Metaverse? 10 Questions To Consider About Your Metaverse Strategy 2023

The metaverse refers to the newest layer of the internet. It is made accessible by using special hardware. In one variation, this hardware (typically lenses and/or headsets) creates a 360-degree immersive experience (virtual reality) and can be paired with physical sensations (haptics). In another version, the hardware lets the users see the everyday physical world, but with an overlay of graphics and/or data (augmented reality). These underlying, fundamental technologies continue to develop in ways that will pose strategic legal, compliance and risk challenges in 2023 and beyond.

Among Tech That Will Change Your Life in 2023, the Wall Street Journal's first entry on Dec. 30, 2022, was "The metaverse, now more than just Meta." The WSJ noted that in 2023, Meta (which now holds 90 percent of the market for virtual reality hardware) will face stiff new competition, and consumers and businesses will have more choices than ever in how to engage in the metaverse.