In July, Facebook said it was creating a product team to work on the metaverse, which would be part of its AR and VR group Facebook Reality Labs. It has been referenced in several recent earnings calls by tech CEOs including Zuckerberg, Microsoft Corp's (MSFT.O) Satya Nadella, gaming company Roblox Corp's (RBLX.N) David Baszucki and Match Group Inc's (MTCH.O) Shar Dubey, who have talked about how their companies could shape aspects of this futuristic realm. Zuckerberg has described it as an "embodied internet." The term "metaverse," coined in the 1992 dystopian novel "Snow Crash," is used to describe immersive, shared spaces accessed across different platforms where the physical and digital converge.
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