I think these companies are just too early to the metaverse trend. Their valuations are obviously completed inflated and senseless right now. It blows my mind that you can have a +1B valuation with a product that nobody uses, the world is INSANE. So yes, I agree with you that these projects are absolutely overvalued in the current market environment.
However, I see the metaverse as an unavoidable future development. We are more and more connected everyday, hell, just look at the development between Millenials and gen Z. People are basically born and connected to the internet instantly. Its hard for me not to see the next generation just living in a virtual world, working in a virtual office and only engaging in virtual relationships. I hope to be wrong, for the sake of humanity. I really hope as well that I won't be forced to work in an online office in the metaverse in my professional future.
Dude second life launched back in 2003 and in that time we've seen bandwith for internet increase dramatically, and cost of internet go down along with onboarding users and the game hasn't grown in lock step with that, metaverse is just a niche interest and will be nothing more
This is just a vc marketing term along with web 3 to get people to buy into rehashed ideas with a token attached to them, if you want to fall for this nonsense be my guest.
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I agree that the metaverse is a niched interest right now and that these projects will not get anywhere. However, lets see when META actually creates a usable products for companies and you are basically forced to work in a "digital" environment. This would be incredibly cost efficient for companies, not needing to rent huge office buildings.
I'm a little bit of a pessimist in this sense but I believe this change will not be optional, we will be forced into this sooner or later.
do you know how many projects Meta has gone after that have failed? Gifts, podcasts, gaming, moments, they've tried to copy so much shit and try add it on the network effect of facebook and it still failed
You could argue that those were smaller projects. They literally changed their company name to go for it, I doubt they will back down so easily this time. But who knows! Time will tell which one of us is right!