Less than two years after its spectacular, spectacular announcement, is the Metaverse slowly but surely dying?

The Metaverse was featured alongside Mark Zuckerberg as the next big thing in technology when it hit the global scene in October 2021. rebranding too Facebook as meta.

of Ideas with Web3 marketed itself on the premise that Online 3D Universe It integrates a multitude of different virtual spaces, allowing users to interact, trade, work, meet, play games, and even socialize.

the concept itself Neil Stevenson Book snow crash Although published in 1992, Zuckerberg gained popularity through over 2 billion Facebook, Instagram, and WhatsApp users.

Soon, Microsoft, NVidia, Google, Disney, Unity Technology, Roblox Corporation, Amazon, Animoca Brands, Epic Games, Decentraland, and even Binance set the bar. for a piece of this new technology.

However, this technology has failed ubiquitously, mainly because: Its constraining cost, especially for users in developing countries. Tech enthusiasts argue that the concept has never been decomposed into simple semantics for mass adoption.

“The metaverse hype is over. But the real challenge is the cost of the metaverse. told to “People are still Googling what the Metaverse means. Again, it only appeals to games, art and fashion. It doesn’t meet the needs of many people,” he said, founder of Brand Moran. said.

The Metaverse’s firepower is now steadily declining, and as generative artificial intelligence gains global momentum, companies that previously had big plans for the Metaverse are jumping ship.

Meta has shifted focus

zuckerberg has spent $36 billion to the metaverse Despite reservations One of his partners is letting go of technology. He said his company will focus on cutting costs and streamlining projects going forward. “Year of Efficiency”.

value of meta took steep descent rear another Since he invested in Losses pile up. The company at least 11,000 jobs cut I couldn’t maintain the metaverse project, but it didn’t help.I plan to cut it now Another 10,000 jobs.

In the midst of its slow growth in popularity, some master of technology The person who spearheaded Meta’s apparent success in the Metaverse project was abandoned it. John CarmackAccording to Meta, who led the development of VR headsets, the project “Half effect” Is required.

zuckerberg lose interest if he decided to resign.

Disney no longer believes in the Metaverse

Disney said they would Abolished the Metaverse Division. intend to do something Fire up to 7,000 people in the next two months Increased profitability.

When Disney invested in the Metaverse, Seemed to tell interactively It tells its story through technology and brings augmented reality to its theme parks. But there are indications that this will not happen.

Microsoft, which also made a big bet, its closure The metaverse has plans to instead focus on generative AI by incorporating GPT into the Bing platform.

The Lifeline of the Metaverse

Several hold on to hope, but.Current problems aside, technology is Here for the long term.

But for that to happen, the world must stop looking at the concept through a fancy lens, according to blockchain expert and ChainAdvise founder Benjamin Arunda.

“There are real-world use cases for the use of VR and AR in education, medicine, space, and research. ,” says Arunda.

In addition, he said some aspects of the metaverse also need to change for it to be widely adopted.

“There is still a long way to go. Gadgets are too big.