After massive layoffs by Meta, interest in Metaverse starts fading.
This year, multiple metaverse-related companies suffered massive losses.
Experts also anticipate that the metaverse will soon come to an end.
Although, the primary reason why individuals believe the metaverse came to an end is due to massive layoffs by Meta. The layoffs have raised concerns about Metaverse's future viability.
Meanwhile, the metaverse is experiencing a bear market, similar to the crypto market. But one thing is certain: the sector is inevitable due to its real-world applications and popularity among Gen Z.
Why is the metaverse inevitable?
The metaverse is inevitable because the vision of offering humanity a new way to live, play, and work in a digital reality is so appealing. Additionally, the adoption of the metaverse will be influenced by what we refer to as “demographic gravity.”
Over the last few years, the workplace has undergone a permanent transformation with the widespread adoption of hybrid work and virtual meetings. The long-form video has given way to short-form video. There are now NFTs and play-to-earn models. Online experiential concerts have been held to a much larger audience than would be possible in a physical venue. This is supported by the ongoing development of hardware and software that power the metaverse, which many of our children will naturally adopt. Each generation will increasingly live, play, and work in a different digital reality.
Now, one question that came here is: Why do experts predict that the Metaverse sector will soon come to an end, despite having so many use cases?
Experts about the future of Metaverse
The experts' opinions came after Meta made massive layoffs and its stock price fell more than 70% this year. Meta is one of the largest investors in the metaverse sector, but the company has suffered massive losses this year.
However, Meta founder Mark Zuckerberg is highly optimistic about the future of the metaverse sector. He remained committed to his goal of making Meta the best virtual reality ever built.
Not only Meta, but also companies like Apple and Microsoft, are heavily investing in the metaverse sector. The metaverse's future may be bright, but only time will tell what comes next for the sector.
Metaverse will be a shot in the arm for VR-based applications, and sooner or later we will see it exceed even our wildest expectations, beginning with completely immersive 3D experiences and the ability of people to recreate parts of their real-world such as homes, cities, and playgrounds, among other things.
As a result, there will be a larger shift away from how we have been living up to this point. So, expect a wild and probably enjoyable ride in the coming years because the metaverse is inevitable and comes with a lot more potential in the future.
What are your thoughts regarding the future of Metaverse? Will it bounce back or will it eventually end? Share your views in the comment section below.