What the Metaverse Is and How It Will Work

Hadrien Gurnel, software engineer EPFL's Laboratory for Experimental Museology (eM+) explores with a virtual reality helmet the most detailed 3D map of the universe with the virtual reality software VIRUP, Virtual Reality Universe Project developed by Swiss Federal Institute of Technology, in St-Sulpice near Lausanne, Switzerland, on Oct. 12, 2021. Laurent Gillieron/Keystone via AP

LONDON—The term “metaverse” seems to be everywhere. Facebook is hiring thousands of engineers in Europe to work on it, while video game companies are outlining their long-term visions for what some consider the next big thing online.

The metaverse, which could spring up again when Facebook releases earnings Monday, is the latest buzzword to capture the tech industry’s imagination.