Decentraland’s Konttinen perhaps gets why there is so much FUD about metaverses in general. It’s been vastly oversold and is tied in users’ minds to the ambitions of the somewhat unpopular Facebook founder Mark Zuckerberg.
People think that the entire metaverse is one company. Misinformation is spreading about metaverse users, and media companies and competitors running with the erroneous narrative.”
It’s a very good point. Interviewing the founders of diverse metaverses really makes it difficult to pinpoint what metaverse platforms are the best or will succeed in the future. It’s like going to the theater or reading a book – what one person likes is very different from another’s taste.
Konttinen also wonders about how to create better metrics to measure the success of a platform.
“I hope we can coalesce around an answer next year of how to measure a user in the metaverse. What is an active user in a virtual world that isn’t based on an advertising model of tracking and selling behavioral and demographic information of its uses? Is an active user someone who returns every day? Is it someone who moves more than one parcel? What we do know is that metaverse is such a powerful concept that the world’s biggest social media company is all-in on its development,” she says.
So, what will the successful metaverse of the future look like? That’s the trillion-dollar question.
Dietz points out the estimated global metaverse market size grew from $63 billion in 2021 to over $100 billion in 2022. Considering all the doom and gloom, this is an impressive feat. There are even forecasts the metaverse could be worth well over $1 trillion by 2030.
All we know is that the early movers will have an advantage as long as they can build a community and give them reasons to return. And if their communities can make money and grow the platform’s economy by helping build the virtual world, then the platform might take on a life of its own and grow organically, tailored to the needs and desires of its users.