Venture capitalists have stopped investing in metaverse projects due to declining interest in the subject. This was reported by Financial Times reporter Jemima Kelly as follows:“Now if you want to raise a lot of money, you better name your project ‘generative AI’. Artificial intelligence that can generate text, images or other content. Venture capital investments in this sector increased 425% from 2020 to 2022.”
Investors don’t believe in the metaverse
According to the Financial Times, Meta’s domestic investors do not like the idea of the metaverse either. That’s why the company’s CEO, Mark Zuckerberg, recently had to say that the metaverse is “just a small part of what we do.”
According to Google Trends, the number of queries with the word ‘metaverse’ has dropped by 80% over the year. Reality Labs, which produces Meta Quest virtual reality headsets, closed 2022 with an operating loss of $13.7 billion.
Also, Meta’s project to recruit around 10,000 EU employees to work on the metaverse has been “suspended”. “Meanwhile, Microsoft fired the metaverse team and laid off 100 employees just four months after its inception,” Kelly said. said.Not innovative according to Bill Gates
“The biggest problem is that no matter how good the tools are, people still largely don’t want to enter the metaverse,” said Dave Karpf, a professor of internet studies at George Washington University. said. Kelly concludes that the metaverse is “over before it even begins.”
Billionaire Bill Gates has also previously opposed the development of the metaverse. According to him, the metaverse is nothing innovative.
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