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.”
Latest
Thanksgiving Holiday Weekend Proved the Omnichannel Customer Has Fully Matured
Now widely reported, last weekend’s Black Friday and Cyber Monday sales were record-breaking on all accounts. Nearly 200 million customers hit physical retail stores over the Thanksgiving holiday weekend according to NRF, a feat all of its own and a validation of the brick & mortar store in an age of omnichannel sales strategy. […]
Consumers Seek More Value from Travel and Hospitality
A recent report from PwC suggests that revenue for hotels will continue to go up over the coming months. This is great news for hoteliers who survived the 2020 pandemic and are looking to recoup costs. What’s more, studies also suggest that customers are happy to pay for these increased prices, even at inflated rates. […]
Are Colorado’s Crafty Healthcare Incentives an Effective Strategy to Lower State Care Costs?
Colorado has some of the most expensive healthcare in the U.S., which already spends more than any other country on administering healthcare. Some studies place it in the top half of most expensive states for care in the U.S., while others place it in the top 10. In 2018, for example, Colorado’s average price per […]
