The metaverse is a solution looking for a B2B problem – that problem being how to help Meta CEO Mark Zuckerberg drum up billions of dollars in revenues – and it’s going to fail in the not-too-distant future.
That is if you believe the good folk at Canalys, who are seemingly already buffing a gravestone for Zuck’s version of the internet that we recently pointed out nobody really wants.
“Is the metaverse the next digital frontier or an overhyped money pit?” asked Matthew Ball, chief analyst at Canalys, at the company’s Channels Forum in Barcelona.
“Tens of billions of dollars have already been invested, costs and delays to Meta’s own progress is a barometer.”
As he pointed out, the world is entering more troubled economic times and some households are struggling to cope with financial outlay in the actual world.
“We’re in a cost-of-living crisis, people are struggling in the real world let alone in the virtual world to be able to invest in property and items and other NFTs,” Ball added.
Gaming may take off, he conceded, and “I’m led to believe there’s a target audience for adult entertainment, perhaps” but as for the business sector? Nope.