Match Group says it’s stepping back from its metaverse dating plans, citing the economy and uncertainty about ‘what will and won’t work’ on the new platform
Tinder-owner Match Group said it''s taking a step back from its investment in the metaverse. The change comes less than one year after Match Group detailed plans for new metaverse ventures, including "Single Town." Match Group is pulling back at a time when enthusiasm for the metaverse appears to be cooling. Tinder-owner Match Group said Tuesday it''s taking a step back from its investment in the metaverse, citing economic uncertainty and questions about "what will or won''t work" in the metaverse. In a letter to shareholders, Match Group CEO Bernard Kim said he instructed the employees not to "invest heavily in the metaverse at this time." Less than one year ago, Match Group, which owns several online dating platforms, including Tinder, Hinge, and OkCupid, had discussed plans for "Single Town," a live virtual world in the metaverse in which single people could interact via their avatars. Match''s CEO at the time, Shar Dubey, had said that though the experience was still in its early stages, it could eventually be its own standalone app.
Match Group says it’s stepping back from its metaverse dating plans, citing the economy and uncertainty about ‘what will and won’t work’ on the new platform
Tinder-owner Match Group said it''s taking a step back from its investment in the metaverse. The change comes less than one year after Match Group detailed plans for new metaverse ventures, including "Single Town." Match Group is pulling back at a time when enthusiasm for the metaverse appears to be cooling. Tinder-owner Match Group said Tuesday it''s taking a step back from its investment in the metaverse, citing economic uncertainty and questions about "what will or won''t work" in the metaverse. In a letter to shareholders, Match Group CEO Bernard Kim said he instructed the employees not to "invest heavily in the metaverse at this time." Less than one year ago, Match Group, which owns several online dating platforms, including Tinder, Hinge, and OkCupid, had discussed plans for "Single Town," a live virtual world in the metaverse in which single people could interact via their avatars. Match''s CEO at the time, Shar Dubey, had said that though the experience was still in its early stages, it could eventually be its own standalone app.