This research aims to present a theoretical review of the metaverse technology, encapsulating major digital technologies and envisioning a shared immersive realm. This conceptualization highlights metaverse core components, applications, and future research trends. Metaverse encompasses many emerging technologies and unveils AI and Generative AI applications. As emerging smart technology, metaverse promises to amplify absorptive capacity and dynamic capabilities of quantum computing, the internet of everything, cloud computing, cognitive computing, virtual reality, extended reality, augmented reality Generative AI, and other digital technologies within immersive space and experiences.