This is Exchange is at Goldman Sachs and I'm Allison Nathan, a senior strategist in Goldman Sachs research.

Today we're going to be talking about the Metiverse.

What exactly is it and is it hype or the next big thing?

To help shed light on the topic,

I'm joined by my colleague Eric Sheridan who covers the U.S. Internet sector for Goldman Sachs research.

Eric, welcome to the program.

Thanks so much for having me. It's great to be on.

You recently published research outlining your view

that we're entering into the future of web 3.0 of which one element that is getting a lot of

attention is the metaverse start by explaining first of all what is the

Metiverse? So the Metiverse broadly is the concept that we are going to take what

our physical world experiences and broadly move them into elements of mixed reality,

virtual reality, and eventually augmented reality.

The idea that you will have experiences around interoperability,

creator communities that are very immersive,

some of which you'll experience through consumer headsets,

some of what you might experience

through the camera on your phone,

but they basically are taking what we know of now as digital experiences,

predominantly your mobile smartphone or your desktop computer, and bringing them to a more immersive

layer than they are today.

So if we're embarking on Web 3.0, as you describe it,

...