The price of "land" plummets, the giant withdraws, and the meta-universe is "cool".

Beijing time March 29 news, in a short period of less than two years, once hot in the scientific and technological circles of the metasverse has been "cool."

Now that meta-universe hardware is expensive, Disney has closed its department responsible for studying its meta-universe strategy. Microsoft also recently shut down a social virtual reality platform it acquired in 2017. Mark Mark Zuckerberg, once the most touted meta-universe, also said on a conference call last month that he would focus more on artificial intelligence. Previously, Zuckerberg even changed the name of Facebook to "Meta" in order to show his emphasis on meta-universe.

At the same time, in some online worlds that allow users to wander as virtual characters, the prices of virtual real estate have also fallen sharply. According to WeMeta, a website that tracks metasonic land sales, the median land sales price on metasonic platform Decentraland is nearly 90 per cent lower than it was a year ago.

"A lot of people are beginning to realize that the transition to a meta-universe is still a long way off." Venture capitalist Matthew Bauer (Matthew Ball) says he has written a book about meta-universes.

In October 2021, the renaming of Meta sparked excitement about the meta-universe experience, products and platforms. However, expensive hardware requirements and faulty technology, as well as deteriorating economic conditions, have led to slow user acceptance, undermining meta-cosmic expectations of boosting sizeable revenue in the short term.