Is the cynicism for the metaverse justified? It is tempting to say yes, and the wider media landscape would agree. The Wall Street Journal discussed the “meh-taverse” as a transitory trend, while The Times talks about “harsh reality” crashing into it. Funding is falling alongside stock values. We are seeing companies who previously labelled themselves as XR companies slap a metaverse sticker on their slide decks – and now AI is slapped on top of that sticker, too. The lights of the metaverse dim darker as virtual streets lose their bustle.

I do not share the same views. I believe the fundamental promise of the metaverse remains strong, as we continue the development of spatial technologies. I believe that the internet will become more immersive, collaborative, and impactful over time, and that AI plays a role in shaping its future too. I also believe that the fixation on AI does not detract one from the other; they pair together, and the more established player will continue their hard work to develop the digital future.

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Tom Ffiske writes about immersive technologies at the Immersive Wire, a newsletter and website dedicated to all things VR, AR, and the metaverse. His goal is to bring a curated digest of the analysis that matters, helping professionals interested in immersive to reach new heights.