Reality is that which, when you stop believing in it, doesn’t go away.Philip K. Dick
The Metaverse has been gaining significant (both positive and negative) attention recently as a potential space for businesses, entertainment, and socialization. However, despite this growing interest, the concept of the Metaverse is still relatively new and may be confusing for entrepreneurs seeking to understand and utilize this emerging technology, especially in an industry like ours.
To better grasp the terminology and “lingo,” it is important for companies to familiarize themselves with the various acronyms and neologisms used in this space and to understand the underlying concepts and technologies that drive it. By doing so, hoteliers can distinguish between the hype and the practical applications of the Metaverse, allowing them to identify opportunities for innovation and growth for their businesses.
Simone Puorto, advisor with 20+ years of experience, keynote speaker, published author (X4), MBA lecturer, and Metaverse Ambassador, teamed up with Hospitality Net to create a comprehensive glossary of terms related to the Metaverse. This glossary has been designed to provide a clear and concise understanding of the terminology, particularly for entrepreneurs and professionals in the travel and hospitality industries.
The glossary provides in-depth information on various aspects of the Metaverse, including concepts such as non-fungible tokens (NFTs), Web3, cryptocurrency, blockchain, land, decentralization, virtual, augmented, mixed, and extended reality, interoperability, and so forth. Unfortunately, these terms are often discussed in a scattered or misleading way in the media and at conferences, making it difficult for entrepreneurs to gain a complete and accurate understanding of the Metaverse. The glossary aims to fill this gap by offering comprehensive definitions and expert perspectives, giving readers a more holistic view of the Metaverse and its potential applications.
This glossary would not have been possible without the invaluable contributions of a number of experts and advocates for the technology, known as “Polybius evangelists,” listed in alphabetical order here below: Adam Mogelonsky, Alex Ratto, Antonio Picozzi, Antovany Reza Pahlevi, Arul Prakash, Brian Vertone, Divya Bhargava, Edoardo Maria Bisignani, Eli Strzelecka, Giuseppe Vaciago, Hasan Algarhy, Julius Yls, Justyn Czekanski, Lior Nitzan, Luca De Giglio, Luca Lupattelli, Dr. Mark v Rijmenam, Matej Curda, Mattia Papa, Michael C. Cohen, Pulidevan Prabakaran, Riadi Piacentini, Roberto Garavaglia, Salman Halawi, Sergio Schemeil, Sophia Shluger, Spencer Tarring, Tibor Mérey, Tracy Cosgrove, Vincent Somsen, Vincenzo Cosenza, and Zoltan Istvan. Their expertise and insights have been instrumental in the creation of this glossary. Additionally, the efforts of Jill Dassen and Davy Schoon have also been crucial in the development of this project.
Many other terms have yet to be explored in detail, so part II will follow very soon. Stay tuned!
In the meantime, If you are interested in learning more about the potential applications of the Metaverse in the travel and hospitality industry, be sure to follow our dedicated series, Polybius, which airs every third Wednesday of the month. You can find the next episodes of this series by following this link: https://www.linkedin.com/company/polybiusmetaverse/.
Additionally, if you would like to gain insight from experts on the topic of “Metaverse and Web3 in Hospitality,” we encourage you to sign up for our expert viewpoints panel, which can be found at the following link: https://www.hospitalitynet.org/panel/36001939.html.
We hope you will join us in these discussions as we continue to delve deeper into the exciting world of the Metaverse.