Not so long ago, Wall Street and Silicon Valley were talking about the metaverse as the next evolution of the tech world. The only question was whether the market opportunity would be worth billions or trillions.
For its part, Goldman Sachs, one of the world’s largest investment banks by revenue, believes it will end. The company noted that in 2007 when Steve Jobs unveiled the first iPhone. It ushered in the era of Web 2.0 in the world. Proponents of the metaverse argue that this will help Leave Web 3.
The Roblox futures are down more than 16% Pre-market, this gaming giant later reported a prominent failure. Furthermore, Metaverse indexes become absolutely crowded in 2022. Roundhill Ball Metaverse ETF (METV) fell 15.3%. The Nasdaq, meanwhile, fell 13.5%.
Many of METV’s constituent parts are doing worse, to begin with Mark Zuckerberg’s meta. The subsequent decision to go full-throttle into the metaverse marked something of the beginning of a new era in consumer technology.
Zuckerberg says the true vision of the metaverse could take a full decade to emerge. Meta action now Down about 35% since the start of the year. Its core advertising business is under threat. Additionally, investors are questioning the billions planned for Metaverse’s ambitions.
Metaverse’s first IPO
Roblox, which went public 11 months ago, was considered First Metaverse IPO. Its gaming platform is very popular among teenagers. Moreover, its Growth exploded In the early days of the epidemic. The company suggested that growth would be tougher. But he recorded Greater loss than expected.
Other Metaverse stocks have also had billions wiped off their market capitalization. We specifically mention AMD, Nvidia and Marvel Technologies. This year, these companies have experienced double-digit stock drops so far. If 2021 is the year of the metaverse, the first half of 2022 promises to be rather tough for it.