2021 has been called the first year of the metaverse era. The metaverse concept came to prominence after sandbox gaming platform Roblox included it in its March 2021 prospectus, causing the company to become known as the "first metaverse concept stock." This was followed by Facebook officially changing its name to Meta in October 2021in October 2021. Since then, widespread discussions have been taking place in capital markets and industries around the world, helping to transform the metaverse concept into a global phenomenon. 

As an emerging concept, the metaverse is full of unknowns. What is the metaverse? What elements will shape its technological ecosystem? What will work and life be like in the metaverse in the future? What changes will it bring to different industries? What are the challenges in terms of turning the concept into reality? The “Exploring the metaverse” report released by KPMG China covers all of these questions and more. By taking a panoramic view of the metaverse ecosystem, they performed an analysis based on four dimensions: the definition and specific characteristics of the metaverse, its basic hardware and core technologies, its prospects in 10 major scenarios, and the opportunities and challenges that lie ahead.