Seriously, What Does “The Metaverse” Mean?

To help you get a sense of how vague the term “the metaverse” can be, here's an exercise: Mentally replace the phrase “the metaverse” in a sentence with “cyberspace.” Ninety percent of the time, the meaning won't substantially change. That's because the term doesn't really refer to any one specific type of technology, but rather a broad (and often speculative) shift in how we interact with technology.

Broadly speaking, when technology companies refer to “the metaverse,” they usually include virtual reality (i.e., persistent virtual worlds that continue to exist even when you're not playing). They may also include augmented reality (i.e., combined aspects of digital and physical worlds). These virtual spaces, however, do not have to be exclusively accessed via VR or AR. Virtual worlds, such as aspects of Fortnite (game), can be accessed through PCs, game consoles, and phones. These types of virtual platforms have also started referring to themselves as "the metaverse" because they can be accessed individually or collectively. 

Adapted from: https://www.wired.com/story/what-is-the-metaverse/