The Metaverse – Did it Live Up to the Hype in 2022?

Patrick Jones
Executive Creative Director
Compadre

What meaningful progress has really been made? Not to be annoying, but it really depends on what we mean when we say “meaningful progress.”

Truthfully, the ubiquitous adaptation of web3 by the average normie somewhere in Idaho is probably a few years out. HOWEVER, that theoretical normie somewhere in Idaho has now heard the term (thanks, Zuck!), and has a baseline knowledge of what it means, even if they don’t understand all the ins and outs quite yet. This year’s developments REALLY set up the space to expand rapidly in the near future, as more and more web3 infrastructure is implemented across the digital landscape.

But it’s not just about infrastructure. Experiences are uber-important in the metaverse, and as more and more brands and entertainment properties create unique experiences in the space that demonstrate the promise of web3, more and more consumers will dip their toes in and discover its utility. This will prove especially true with augmented reality in the short term, as the virtual reality space still needs another decade or so before it’s fully ready for prime time.

Web3 is certainly not a novelty, and brands/studios/whoever should continue to invest in the space in the years ahead. But with that being said, it’s ALSO not a universally understood or adapted platform as of today, so if you’re GONNA invest there, you should make sure you know who you’re talking to and what you’re trying to accomplish (unless burning money is, like, a kink of yours; I’m not here to yuck any yums!).

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