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#The Fall of the Metauniverse: Why the Hype Died Down

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According to reports, the previously popular metauniverse in the scientific and technological world has \”fallen out of favor.\”. Disney will cancel its Meta Universe division, Micro

#The Fall of the Metauniverse: Why the Hype Died Down

According to reports, the previously popular metauniverse in the scientific and technological world has “fallen out of favor.”. Disney will cancel its Meta Universe division, Microsoft has closed a social virtual reality platform it acquired in 2017, and Zuckerberg, who renamed Facebook Meta to show his importance to Meta Universe, said in a earnings conference call last month that he is more focused on artificial intelligence. At the same time, the price of virtual real estate has also dropped significantly. According to data from WeMeta, a website that tracks land sales in the Metaworld, the median land sales price in Decentraland has decreased by nearly 90% compared to a year ago, from $45 per square meter to $5 per square meter. (Wall Street Journal)

Technology giants shrink the yuan universe business, virtual real estate prices plummet

With major players backing out and the value of virtual real estate dropping significantly, it’s clear that the Metauniverse has lost its shine. Here’s why the once-popular concept is falling out of favor.

Outline

1. Introduction to Metauniverse and its previous popularity
2. The current state of Metauniverse – Disney canceling Meta Universe division, Microsoft closing social virtual reality platform, and Zuckerberg focusing on artificial intelligence
3. The decline in virtual real estate prices and how it affects the Metauniverse
4. Why the hype died down – perception versus reality
5. Opportunities in the Metauniverse despite the fall

The Article

The concept of the Metauniverse – a virtual space where users can interact through avatars and digital assets – has been a topic of discussion in the scientific and technological world for several years. Big tech companies like Google, Facebook, and Microsoft had invested heavily in developing it, and the potential for real-world applications seemed endless. However, in recent years, the hype around the Metauniverse has died down, with major players backing out and the value of virtual real estate dropping significantly.
To give some perspective on this trend, Disney recently announced that they will cancel their Meta Universe division, while Microsoft closed down their social virtual reality platform they acquired back in 2017. Furthermore, Facebook’s CEO, Mark Zuckerberg, renamed the social media giant to Meta and said in the company’s earnings conference call last month that he is more focused on artificial intelligence – a far cry from his previous statements about the Metauniverse’s potential.
At the same time, the price of virtual real estate has plummeted. According to data from WeMeta, a website that tracks land sales in the Metaworld, the median land sales price in Decentraland has decreased by nearly 90% compared to a year ago – from $45 per square meter to $5 per square meter. This drastic decline can be attributed to several factors, including less hype and investment in the Metauniverse due to the shift in focus from companies, as well as the continued influx of virtual land supply.
So, what caused the hype around the Metauniverse to die down? Was it all just perception, or was there some reality that didn’t match up to the expectations?
One reason could be the technical limitations involved in creating a seamless user experience within the virtual world. Achieving a realistic and immersive experience requires a lot of technological advancements, which may not be possible in the near future. Another reason could be the fact that people might prefer face-to-face interactions over digital ones. No matter how advanced the virtual world seems, it’s still a simulated reality that cannot replace the organic feeling of a physical world.
Despite the fall of the hype, however, there are still opportunities to be found in the Metauniverse. One promising area is the potential for virtual education and training, where users can learn and practice skills in a simulated environment without the high costs associated with in-person training. Additionally, the Metauniverse could be used for remote work and collaboration, allowing teams to work together seamlessly from anywhere in the world.
In conclusion, the hype around the Metauniverse might have died down, and it’s clear that major players are no longer focusing on it as much. However, this doesn’t necessarily mean the end of the Metauniverse. There are still opportunities to be found, and as technological advancements continue to be made, we might see the Metauniverse rise once again.

FAQs

Q: What is the Metauniverse?
A: The Metauniverse is a virtual space where users can interact through avatars and digital assets.
Q: Why did the hype around the Metauniverse fall?
A: The hype around the Metauniverse fell due to a combination of technical limitations and people’s preference for face-to-face interactions.
Q: Are there still opportunities in the Metauniverse despite the fall of the hype?
A: Yes, there are still opportunities in the Metauniverse, especially in areas like virtual education and training and remote work and collaboration.

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