This week, we focus on the challenges faced by Mark Zuckerberg’s Meta. As the company’s stock continues to plunge, analysts ask whether this gamble will prove worth the risk – the overwhelming answer, thus far, is no.
Yet the failures of Meta need not doom the sector as a whole. In fact, other giants are entering the field successfully: PayPal recently filed NFT & metaverse patents, indicating its intention to strengthen its position in the space.
Meanwhile, social platform Reddit has been silently onboarding millions of new users to web3 — 2.8 million to be exact, according to data provided by Polygon and Dune Analytics. Hundreds of companies (and thousands of creators) are turning the metaverse into a reality. They, not Meta, might represent the internet of tomorrow.