As far as I know, virtual reality, augmented reality, and metaverse are different things.

Virtual reality replaces completely the things you see in your surrounding using some sort of tool such as virtual glasses or vr box to show the newly set and readily made place or reality. Meanwhile, augmented reality just adds on the view you are seeing. AR adds some elements or objects on your line of sight and it is usually done with the usage of smartphone camera such as the game which trended before Pokemon Go.

Now, metaverse is a completely different thing. While it relates to virtual reality since it features a virtual realm as well, it differs in set up. Metaverse from the word itself is a multitude of universes. It is comprised of different virtual realities. It is interconnected and you can do many things inside it. It does not limit you from becoming entertained only, but you can do various things such as modifying the reality you are staying in and creating one too. You can enjoy while having the possibility of generating income too such as in planned metaverse casinos which is a plus for those who want to explore something new even they are just inside the comfort of their homes.

Metaverse is slowly being developed and I know for sure that many games and even for shopping or strolling purposes will come out of this idea. Given that there are already plans about making a meta shopping, it's possible it will be used for other things as well that will bring satisfaction and convenience to the users.