Meta pushed the interest in the Metaverse to a peak. Recently, the Metaverse seems to have gradually faded out of our lives. The Metaverse was once the hottest topic in tech, arguably the mainstream issue of 2021 and 2022. Many believed it is certainly the future of computers, and perhaps of life itself. However, enthusiasm for the Metaverse has waned. Here are the six main reasons why people have lost enthusiasm for the Metaverse.
1-Generative AI stole the Metaverse’s thunder
For a long time, many people were not optimistic about the irrational prosperity of the Metaverse. However, generative AI techniques may create more problems than they solve, but it will still have a broad impact on our lives starting this year. Even Zuckerberg said this is Meta’s top priority for 2023.
Facebook’s name change to Meta is a typical case of rebranding, and Meta’s influence has been further enhanced after this incident. The Metaverse (metaverse) is now so closely tied to Meta that many people think that the Metaverse is a project of Meta Corporation, rather than being a direction that other people or companies are also pushing.
Selling the Metaverse too quickly and too much may just turn more people off than excited. When the hype is not met with the expected product, people become disappointed and lose faith.
4-Having a Great challenge
When the Metaverse-related technologies are mature, it is expected that we will be able to install ultra-realistic 3D display technology inside a pair of ordinary glasses, and ensure that the “glasses” can run for a whole day on a single charge. Otherwise, it cannot be said that the Metaverse has matured. It is unrealistic to claim that “progress will be made”, “progress is being made”, and the necessary technology required by the Metaverse cannot be imagined.
5-Web 3.0 is useless for the Metaverse
Many people confuse the Metaverse with Web 3.0, the blockchain-powered variety of technologies designed to track the ownership of digital property. Web 3.0 is closely related to technologies such as cryptocurrencies and NFTs, and the hype bubble for technologies such as cryptocurrencies and NFTs has burst. But the bumpy development of this type of technology has little to do with the Metaverse, which is a concept big enough that it may be realized in a way that has nothing to do with technologies such as Web 3.0, cryptocurrency, and NFT.
6-Unclear business models
The Metaverse is still in its infancy, and there are no clear business models for it yet. Companies are not sure how to monetize it, and users are not sure what value it brings to their lives. Until the Metaverse has a clear value proposition, it will be difficult for it to gain widespread adoption.
So the fading of people’s enthusiasm for the Metaverse does not mean that it will disappear forever, and the popularity of the Metaverse may rebound. Regarding the rise and fall of the development of the Metaverse, we will wait and see.