What is a networked VE?
A networked virtual environment (net-VE) is a software system in which multiple 
  users interact with each other in real-time, even though those users may be 
  physically located around the world. 
Typically, each user accesses his/her own computer workstation or console, 
  using it to provide a user interface to the content of a virtual environment.
These environments usually aim to provide users with a sense of realism by 
  incorporating realistic 3D graphics, spatial sound & other modalities to 
  create an immersive experience.