Metaverse investments stopped
Financial Times reporter Jemima Kely said that venture capitalists have stopped investing in the Metaverse project.
According to Google Trends, queries with the word “metaverse” decreased by 80% in 1 year, while hiring stopped.
THE DREAM ENDED QUICKLY
According to the Financial Times , Meta ‘s domestic investors do not like the idea of the metaverse either. The company’s CEO, Mark Zuckerberg , recently used expressions about Metaverse as “just a small part of what we do”. According to Google Trends, the number of queries with the word “metaverse” has dropped by 80% over the year.
Reality Labs, which produces Meta Quest virtual reality headsets, closed 2022 with an operating loss of $13.7 billion. Its project to hire around 10,000 EU employees to work on Metaverse was put on hold, while it laid off 100. Billionaire Bill Gates made a statement about the Metaverse “it’s nothing innovative”.
