How does the metaverse index work?

Could you please elaborate on the mechanics behind the metaverse index? How does it track and measure the performance of various components within the metaverse ecosystem? Is it a comprehensive index that captures the entire spectrum of the metaverse, or does it focus on specific sectors or assets? Additionally, how frequently is the index updated, and what factors influence its composition and weighting? Understanding the intricacies of the metaverse index would greatly aid in assessing its potential as a valuable tool for investors and enthusiasts alike.