10 The Metaverse Overview : Vision, Technology, and Tactics | Vision and Values 1. Vision and Values 1.1 Vision and 4 meanings of the Metaverse In this nascent phase of the Metaverse, the industry has not formed a unified standard for defining or understanding it. It is a garden in which 100 flowers are blooming and 100 schools of thought contend. David Bashuki, CEO of Roblox, has proposed eight elements of the Metaverse: identity, sociality, immersion, low latency, diversity, anywhere, economic system, and civilization. Renowned analyst Matthew Ball has identified six characteristics of the Metaverse: sustainability, real-time, no access restrictions, economic functions, connectivity, and creativity. Jon Radoff, founder of Beamable, has ideated seven levels of Metaverse construction: experience, discovery, creator economy, spatial computing, decentralization, human-computer interaction, and infrastructure. In China, some institutions have proposed that the Metaverse is a new internet application and social arena that integrates various new technologies, shaping a virtual space in an online world that mirrors the natural world in an increasingly realistic digital landscape. These different understandings and definitions of the Metaverse come from different perspectives, including experiential, technological, or regulatory interpretations. It is not easy to provide a concise, definitive, unified definition that covers all these dimensions. Starting from the original meaning of "Meta (Meta) + Verse (Universe)", Deloitte has defined and imagined the future of the Metaverse as "a converged world of the virtual and the real". This has four meanings: a virtual mirror world that simulates the real world, an innovative virtual world set apart from the real world, the real world as a facet of the Metaverse, and the convergence of the virtual and real worlds beyond either the virtual or the real world. In this chapter, we discuss the development vision of the Metaverse, its long-term value, its characteristics compared with current internet platforms, and development bottlenecks. Figure6: Definition and meanings in the Metaverse Source: Deloitte analysis 4 meanings Components of Metaverse “A virtual and real world converged universe” Real World Virtual Mirror World to simulate reality Virtual Native World A new virtual world Metaverse Virtual Mirror A virtual world simulating reality Real World The real world Convergence of Virtual and Real Worlds Surpasses Virtual or Real World Virtual Native Innovate virtual world