The metaverse - my new real life?

In October 2021, Facebook announced it was hiring 10,000 people to develop and run the metaverse, changing their name to Meta in the process. Technologists are predicting in 10-15 years we will all be interacting or living in the metaverse, and companies are clearly investing heavily in it.

But what is it and will it really revolutionise our lives? Would life in the metaverse hold the same value as our real life, and if adopted by society, what impact will that have on communities and nations for future generations? Or is it just another gimmick - an extension of social media with the aim of consuming our time?