Is the 'metaverse' hype already over?

Is the 'metaverse' hype already over?

In recent years, there has been a lot of talk about the potential of the metaverse as a new way to host virtual events and provide attendees with a unique and immersive experience. However, the real breakthrough did not come.


Big tech companies have invested billions of dollars in developing virtual worlds, and the metaverse was predicted to be the future of the internet. And while the metaverse is still an interesting concept and some nice concepts have been created, the hype seems to have died down. "In the midst of a pandemic, the metaverse seemed to become the alternative to physical events, but there was no real major breakthrough," says Kevin Van der Straeten. "Many metaverse concepts received extensive press coverage, but in reality the results are less impressive than predicted."


For example, Fashion Week 2023 was also a big disappointment. In 2022, it could receive 108,000 virtual visitors, this year only 1,000 visitors were online simultaneously (with a total of 26,000 visitors, no less than 76 (!) percent less than the year before).


The hype surrounding the metaverse therefore seems to be waning, while the focus is shifting to another technology area: artificial intelligence (AI). AI, also known as artificial intelligence, is the ability of computer systems to perform tasks that normally require human intelligence. Chat-GPT is the best known example of this.


And although Facebook recently changed the name of its parent company to Meta because it would bet 200% on the metaverse, the social media giant is also shifting its focus to AI. According to CEO Mark Zuckerberg, it is all still 'too early' and the breakthrough will still come, but whether he is right remains to be seen.


That does not alter the fact that hybrid and online events are a huge success, on the contrary. Only walking around in clumsy virtual worlds is not (yet) appreciated by the general public for the time being.

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