Metaverse technology: Blockchain space
It is painfully obvious that both Meta’s own metaverse and the other companies in the blockchain metaverse market have a very small user base. Consider the Horizon Worlds of Meta. By the end of 2022, Meta had initially aimed to create a community with 500,000 active users per month. With hardly any users returning, the monthly count is under 200,000. In addition, just 9% of virtual worlds ever have 50 or more visitors, and the majority never have any.
Walmart made the decision to create its own virtual universe on the Roblox platform, with products focused on music, clothing, and toys. Many users criticized the experience’s corporations and the virtual world’s lack of ownership.
Then there is Sandbox and Decentraland. The Sandbox has only ever reached a maximum of 4,503 daily active users, while Decentraland has yet to surpass 675, according to a research by analytics company DappRadar, which delivered a bombshell into the metaverse area. Decentraland denies these numbers, claiming that there are over 50,000 monthly active users.
Therefore, purchasing virtual property may be viewed as a leap of faith. Naturally, it is. While others believe that the metaverse would only ever be popular with games, Apple CEO Tim Cook sees potential in augmented reality.
It’s hardly shocking that adoption is so sluggish. The same was true of the internet in its early years, when creating a website was prohibitively expensive, there was little trust in the safety of making purchases online, and websites were cumbersome and slow.
More About Metaverse blockchain Technology
Similar to the internet, it will take a few game-changing applications for people to become interested in visiting metaverses frequently. Metaverses built on blockchains have a bad record for being challenging to traverse. For instance, the co-founder of Axie Infinity admits that the learning curve for the game is very hard. Those who are new to cryptocurrency might have hard time with it. It is the most widely played blockchain game in its own metaverse. But hundreds of thousands of players are put off by the numerous obstacles. Which they must overcome in order to play. And even if gaming already makes up a sizable portion of every metaverse. On a platform made for a one-dimensional game. Non-millennials and non-Gen Zers are unlikely to shop for clothing or carry out other essential tasks.
A game is referred to as The Sandbox. The metaverse needs to evolve beyond games if it is to succeed. Virtual malls, stores from well-known brands, gyms, bars, and casinos are all located in one straightforward to access metaverse. It is apparent that the majority of Meta’s metaverse users leave and never come back. Understanding this is essential if you want to know what it will take to draw in recurring customers.
Source: Finance Brokerage