There are good reasons to explain why the Metaverse fails.Click here for Top 10
The Metaverse, touted as the next inflection point in the digital world, is at a crossroads.touted as Web 3.0 With the promise of a virtual reality experience as the main proposition, he is currently struggling to stop the fall. And this is before it started. Since the company’s stock took up, he’s lost nearly $18 billion and made just over $4 billion in revenue in the Reality Labs segment.For many reasons it has proven to be an overrated concept and most users concept of metaAccording to a recent WSJ article, metaHorizon World has garnered little consumer interest. The user base is steadily declining as most users do not return to the virtual world after his first month.The reason is its outdated or Mark Zuckerberg’s The audacity to tout it as an inevitable future technology.Click here for Top 10 Why the metaverse fails.
there is no consensus on what it is
Metaverse is no longer an exclusive project of Meta. But the way it’s trying to make an impression is only doing it detrimental to the company. It’s more than an augmented reality-enabled and connected virtual world.
general lack of interest
A recent State of Digital Customer Experience report by CMSWire found that 42% of organizations are not interested or paying any attention to the metaverse, and another 39% say they have a “wait and see” attitude. increase.
The metaverse lacks maturity
The VR and AR aspects clearly lack maturity. This is illustrated by Mark’s recent announcement, “Meta was able to develop legs for avatars.” The leg was actually animated in the demo. Also, the VR headset requirement to participate in Meta is at odds with convenience.
Big tech collaboration needed
For the Metaverse to become one immersive environment, it will require collaboration between companies such as Meta, Alpha, Microsoft, Apple, and Amazon. The Metaverse is still just a business opportunity for these companies, potentially creating a different environment for each user.
Increase in stagnant users
User growth plateaued, and the company had to be content with a modest increase in new users across its app family, including Instagram, Messenger, and WhatsApp. Core networking app Facebook lost about 1 million users at the end of the year.
VR is hot
When Mark rebranded Metaverse VR, it came in some fantastical forms. It has only been found to be on par with online video games such as BeatSaber and Betamax video.
indifference of investors
Understanding the meta, or where his trend is currently headed, is like a puzzle for investors. Especially when you lose a senior executive like Sheryl Sandberg. With no short-term payoff and a looming recession, investors are reluctant to invest further.
Apple privacy barrier
Apple recently introduced the App Tracking Transparency update, allowing iPhone users to monitor their online activity on Facebook. Having access to user behavior would do a lot of damage to Meta’s business.
Google eats up ad revenue
Unlike Meta, Google doesn’t rely heavily on Apple for user data. Wehner said Google likely has “much more third-party data for measurement and optimization purposes” than Meta’s advertising platform. As such, most advertisers have started to migrate to the Google platform.
Competition from Tik Tok
Tik Tok is assembling a lineup of Metaverse hardware, content, software, and platforms similar to Meta. Ventures into blockchain and VR have sent so many warning signals to Meta that Meta’s CEO has asked his employees to create a new Pivot video.