If you haven't heard, Meta abandons metaverse to venture into AI. This is barely a year after its limited experiment launch. Meta's track record in Web3 is also a tricky one, with failures of its past crypto projects (think Diem and Novi and its Reality Lab, which are in deep losses) It has also undergone massive layoffs recently. In light of these challenges, Meta is focusing on growth priorities, which makes sense given its current position.
I believe this is short-sighted. I am still bullish on NFTs and Web3 overall. Trade volume on crypto is back, showing that masses haven't given up hope. Additionally, Amazon has announced that it will launch its NFT Marketplace in Q2 this year, which is sure to generate even more interest in this emerging technology. Don't forget about Gartner's emerging tech 2022 report mentioning NFTs and the Metaverse are still years away from being widely adopted.
So, Meta might regret its drop out. So, what do you think?
