<p>The Metaverse, a dynamic and immersive virtual realm, has captured the imagination of researchers and enthusiasts worldwide. This survey paper aims to introduce a groundbreaking taxonomy for the characteristics of the Metaverse offering a structured and adaptable framework that extends beyond existing categorizations by incorporating dynamic transformations. Unlike prior taxonomies, which often focus on fixed attributes, our approach emphasizes the dynamic evolution of Metaverse characteristics. Through an extensive review of published literature, this study explores key technological, social, economic, and ethical dimensions of the Metaverse. It introduces a process-oriented classification based on 23 distinct characteristics, including immersification, spatiotemporalification, interactification, persistentification, presentification, personification, unification, imaginification, economification, uncertaintification, and credification. By mapping these evolving aspects, we provide a structured and future-proof foundation for understanding the Metaverse’s continuous development. This survey establishes a new standard for comprehensiveness and innovation, shedding light on the diverse facets that have been explored in literature. Through this novel taxonomy, we provide a detailed map of the current landscape and offer insights that pave the way for future research and development in this burgeoning digital frontier.</p>