Metaverse is a virtual world where humans (in a virtual avatar) can work, live, play and interact with each other in real-time. A reason the Metaverse is the buzzword today is that a lot of big tech companies are heavily investing in building technologies for the Metaverse.
Meta is investing heavily in the metaverse - a virtual space where people interact, work and play - by adding new features to hardware devices that serve as access points to the virtual world.