Silicon Valley is racing to build the next version of the Internet. Fortnite might get there first.

The next version of the Internet is often described as the Metaverse, a term borne from science fiction, describing a shared, virtual space that’s persistently online and active, even without people logging in. It will have its own economy, complete with jobs, shopping areas and media to consume. The Metaverse is inevitable, many believe, and the Silicon Valley C-suite has been obsessed with the idea — as has a video game company in Cary, North Carolina. In recent years, there’s been serious talk about how to build the Metaverse, and who will build it first. One only needs to witness Facebook and Google’s Internet success today, given how both companies dominate digital business, to understand the eagerness with which companies hurry to populate this next frontier.