The Fall of the Meta-Universe: A Shift in Priorities

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

In recent years, the concept of the Meta-Universe has taken the scientific and technological world by storm. With companies such as Disney, Microsoft, and Facebook investing heavily in the experience, it seemed as though the Meta-Universe was on the fast track to becoming the next big thing. However, recent reports suggest that the hype surrounding the Meta-Universe has dwindled, resulting in the cancellation of projects and a significant drop in virtual real estate prices. This article explores the reasons behind this shift in priorities, and what it means for the future of the virtual world.

What is the Meta-Universe?

Before we delve into why the Meta-Universe has seemingly fallen out of favor, it is essential to understand what it is in the first place. The Meta-Universe refers to a virtual world where users can interact with each other and their surroundings, much like in the real world. Think of it as a virtual reality experience that is more immersive and interactive than anything that has come before.

The Decline of the Meta-Universe

Despite the initial excitement surrounding the Meta-Universe, there has been a noticeable decline in interest in recent times. This is evident in the cancellation of projects by major players such as Disney and the closure of a social virtual reality platform by Microsoft, which it had acquired in 2017. Even Mark Zuckerberg, who recently renamed Facebook to show its importance to the Meta-Universe, has shifted his focus to artificial intelligence.
One of the major contributing factors to the fall of the Meta-Universe is its complexity. The technology required to create a Meta-Universe is incredibly advanced and expensive, with many obstacles to overcome. Moreover, the virtual world is still in its infancy, with challenges such as security concerns that need to be addressed. This complexity has resulted in slow growth, which has caused many investors to lose faith in the concept.

Virtual Real Estate Prices Plummet

In addition to the decline in interest, virtual real estate prices have also 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 significant drop in prices is indicative of the lack of interest in the Meta-Universe experience.

The Future of the Meta-Universe

Despite the fall of the Meta-Universe, it is crucial to note that the technology behind it is not going away. While virtual reality experiences may not be as popular as they once were, the technology will continue to evolve, and we may yet see a resurgence of interest in the Meta-Universe. For now, however, the focus seems to be on other technologies, such as artificial intelligence and augmented reality.

Conclusion

The Meta-Universe was once thought to be the future of virtual reality experiences, but it seems that its time has passed. With investors losing faith in the concept and virtual real estate prices plummeting, it is clear that the focus has shifted towards other technologies. However, this does not mean that the Meta-Universe is gone forever. The technology behind it is still evolving, and we may yet see a renewed interest in the future.

FAQs

1. What is the Meta-Universe?
The Meta-Universe is a virtual world where users can interact with each other and their surroundings, much like in the real world.
2. Why has the Meta-Universe fallen out of favor?
The Meta-Universe has fallen out of favor due to its complexity, slow growth, and challenges such as security concerns, resulting in investors losing faith in the concept.
3. Is the Meta-Universe technology gone forever?
No, the technology behind the Meta-Universe is still evolving, and we may yet see a renewed interest in the future.