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The metaverse industry is imploding. 

Jan 30 2023

The metaverse industry is imploding. The recent slew of big tech layoffs and closures from Apple, Microsoft, and Meta may be proving critics were right when they said, “over-investment was never going to be enough to breathe life into the hype-poisoned space.” The billions of dollars in investments simply came too soon and the tech isn’t keeping up. Only time will tell how these companies’ virtual reality products hold up, but young consumers are ultimately dictating the direct the metaverse is heading, not the CEOs—as we’ve seen in already existing games like RobloxFortnite, and Minecraft. YPulse predicts the metaverse will get its much-needed redefinition this year to finally be understood as a set of virtual realities that already exist for entertainment (specifically gaming). (Futurism)