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What is the Metaverse? Why is Facebook CEO Mark Zuckerberg's virtual platform in trouble?

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in the social media wars Facebook, owned by Meta, keeps losingIn February, the company reported its first drop in daily users for the app. $200 billion, about 25% wiped from its value.

“The direction is clear, but our path is not yet clearly defined,” CEO Mark Zuckerberg said at the time.Last year was about stakes in the ground about where we are heading. This year is about execution. ”

Funding and execution was a further investment in the Metaverse, a virtual world with a comprehensive view of the internet and social interactions through virtual reality technology. Zuckerberg has spent a lot of time working on this project and has been at the center of a big marketing push. Because it was opened with a Quest 2 headset.

It has yet to prove popular. wall street journal reported that the majority of users stopped returning to the platform after just one month.

Why is the Metaverse struggling?

As I mentioned before, Headset initial investment $400If these came in the middle of the covid-19 pandemic and increased middle class savings, perhaps more people would have bought the gear they needed. is expected and some countries are already in recession. No disposable income on purchases.

These lead to a low player base to begin with. The server is empty and the world is empty. The gameplay itself looks uninteresting It features graphics reminiscent of games at the turn of the millennium. Check out Jordan Peele doing his best to appear interested in the project.

Is the concept worth it? Coming back to the pandemic again, it seemed like we needed to maintain human contact without a physical meeting. This shift away from virtual meetings is showing in the stock price of his Zoom, one of the winners of the pandemic. As restrictions began to ease at the end of 2020, Shares down 86%Now that restrictions due to covid-19 are all but gone, why meet friends in an empty virtual world compared to the real world?

The ads are littered with borderline lies about what the Metaverse is, where it can be done and what it can offer.of The marketing was filled with ads with disclaimers that said “not actual VR footage”. Or show actors in the metaverse when they’re playing where the company itself says it’s not appropriate. For a headset to work, you need a big house, or at least a big open space.

High initial cost, low user base, drab and lifeless content and visuals. It’s a recipe for disaster at the momentZuckerberg and Meta are hoping their massive investment will pay off.