The Surprising Metaverse Decision From Tinder

MetaversePlanet August 4, 2022Last Updated: August 14, 2024

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The dating app Tinder has ventured into the metaverse landscape, introducing new features and innovations for its users.

While the concept of the metaverse is gaining prominence in our daily lives, Tinder is positioning itself to explore virtual realms. However, the company’s virtual world initiatives are currently in the planning stages, with further details yet to be unveiled.

The surprising metaverse decision from Tinder

It seems that Tinder is not rushing into the metaverse anytime soon. Match Group Chief Bernard Kim has revealed that Tinder is planning to scale down its metaverse initiatives. In a shareholder letter, Kim mentioned that the company is concerned about the “uncertainty” surrounding virtual worlds, leading them to refrain from heavy investments in the metaverse.

Additionally, Match Group reported an operating loss of $10 million for the quarter, partly attributed to the acquisition of Hyperconnect. The company is also stepping back from its plans to introduce Tinder Coins, although it doesn’t completely dismiss the idea of digital currency.

Tinder is currently facing leadership changes, with CEO Renate Nyborg leaving the company. The reasons for her departure remain unclear, but Kim stated that they are actively searching for a replacement at Match.

The dating platform is navigating a challenging landscape, impacted by the COVID-19 pandemic and a decline in interest in online dating. Kim expressed hope that more aggressive product rollouts, including features like live video and “excuse” dating services, will attract new users despite the challenging circumstances.