2022 Review of Metaverse

The term “metaverse” became one of the most overused words in 2022 due to its wide variety of interpretations. The Block Research defines “metaverse” as a unified experience between digital and physical realities. Numerous Web3 developers are currently utilizing blockchain technology and digital assets to create a more immersive and meaningful metaverse, ushering in the next generation of the digital economy. Nonetheless, we may be a generation too early for blockchain-powered technology, as the demand for such an experience stems only from a small user base.

In reality, the Web3 metaverse industry lacks matured infrastructure, compelling content, and user-friendly applications. All of these increase friction in accessing the metaverses, making it less appealing even for those early adopters, further preventing widespread adoption of these virtual worlds.