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The Metaverse: the business of the century or a massive bubble?

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Companies are rushing to develop a presence in the Web3 world, although its profitability is still unclear

Ambiance Of Mobile World Congress 2022 Barcelona.Joan Cros (NurPhoto via Getty Images) On October 28, 2021, a gear was set in motion, and it is still turning. That day Mark Zuckerberg gave an hour-and-a-half presentation about his great project for the future: a virtual environment that he referred to as the “metaverse,” which he sees as “the natural evolution of the Internet.” To emphasize the gravity of his initiative, he closed his speech by announcing that his company would be known from that moment on as Meta. “Over time, I hope we are seen as a metaverse company,” he said. The message had a deep impact, and for a nonexistent product, the expectations are high: the metaverse is already attracting million-dollar investments . It took Microsoft less than a week to enter the race to create the metaverse workplace, starting with offering customizable avatars for its Teams video-calling software. The company reinforced its efforts at the end of January with the €69,000 million purchase of Activision Blizzard, the video game company behind bestsellers including Call of Duty and World of Warcraft. The […]

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