Metaverse is just a term for 3d virtual worlds. They've already been in existence for years via popular 3d games where you navigate throughout a 3d world.
There was even one game that held a real-world rap concert within the game, in the recent past. In the future, companies will compete to be the go-to metaverse where everybody congregates. If you become the dominant metaverse, you could have millions of people (potential customers) running around in the world.
Big companies are buying up parcels in these virtual worlds, allowing you to shop, do virtual gambling, hold events, display advertising, etc. Your local sports arena might only hold 10,000 people for a special monster truck event, but if they broadcast a virtual event in a virtual world, potentially millions could attend for huge ticket sales.
If millions walk into that virtual event, maybe using their VR headset, they'll feel like they are there. And when they walk out of the event and see a big billboard on the adjacent virtual property that someone owns, that billboard can drive traffic and sales to a real web site.
If everyone congregates around the most popular night time district in a virtual world, the companies who have purchased virtual land on those streets can get a huge amount of publicity and sales.
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