Metaverse Struggles to Achieve Mass Adoption as Funding Continues to Fall
The Sims may be one of the best-selling video game franchises of all-time, but companies are struggling to make that digital world a reality.
Funding has been on a steady decline over the past year for the metaverse as it has struggled to achieve mass adoption across a wide user base. This trend has potential users and investors alike wondering if this digital world will ever be the version, we had hoped it would be.
However, some AAA deals have still shown promise with companies like LootMogul, Scandit and others still securing multi-million-dollar deals despite the funding downturn.
Mouaadh ‘Miso’ Bellaour, 3D artist and CEO of Monoware Studios, believes we’ll need a culture shift towards a digital-first world before mass adoption can truly take off.
“In order for the Metaverse to see further adoption, the Metaverse has to reconcile with the daily lives of its potential users. It’s difficult to say that there’s a definitive tipping point in terms of where 3D technology needs to be. It is easy to say, however, that some scope of the Metaverse, the broadest definition of it Is already a part of our lives.
It’s the digital world that we interact with daily, and like the foundation of the internet, an open protocol is the best solution to innovating the metaverse to greater adoption, and it has to be a set of tools that anyone can use and make their own without restriction.”
