Financial Times reporter Jemima Kelly stated that venture capitalists have ceased their investments in Metaverse projects.
According to Google Trends, searches containing the word “metaverse” have fallen by 80% over a year, and recruitment has come to a halt.
THE DREAM ENDED QUICKLY
According to the Financial Times, Meta’s domestic investors are also not fond of the metaverse concept. The company’s CEO, Mark Zuckerberg, recently described the Metaverse as “just a small part of what we do.” Google Trends data shows that searches for the term “metaverse” have decreased by 80% over the past year.
Reality Labs, the division behind the Meta Quest virtual reality headsets, ended 2022 with an operating loss of $13.7 billion.
Its plan to hire approximately 10,000 EU employees for Metaverse projects was put on hold, while it proceeded to lay off 100 employees. Billionaire Bill Gates commented on the Metaverse, saying “it’s nothing innovative.”
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