Metaverse Application Development: Cost, Features, and Benefits. After the continuous development and success of AR and VR (augmented and virtual reality), everyone is obsessed with Metaverse. Over the past decade, the technology world is looking for ways to develop tools that can create virtual spaces, people, objects, environments, etc. Technologies like cyberspace, VR headsets, etc. are just offering a glimpse into the future of Metaverse.