The metaverse refers to a virtual world in which people can meet and interact with one another.
But there won’t be just one. There will be many diferente metaverses out there.
Other companies talking up the metaverse include Microsoft and chipmaker Nvidia.
"We think there's going to be lots of companies building virtual worlds and environments in the metaverse, in the same way there's been lots of companies doing things on the World Wide Web," said Richard Kerris, vice president of Nvidia's Omniverse platform.
You can teleport to different worlds whether it's by one company or another company, the same way I go from one web page to another web page."
Video game companies also are taking a leading role. Epic Games, the company behind the popular Fortnite video game, has raised $1 billion from investors to help with its long-term plans for building the metaverse.
Game platform Roblox is another big player, outlining its vision of the metaverse as a place where "people can come together within millions of 3D experiences to learn, work, play, create and socialize."
Consumer brands are trying to jump on the trend, too. Italian fashion house Gucci collaborated in June with Roblox to sell a collection of digital-only accessories. Coca-Cola and Clinique have sold digital tokens pitched as a stepping stone