It feels like 2020 the metaverse was the next hot thing. It was primed for being a huge success with the lockdowns of covid all of the place and people wanting to connect and hang out with their friends and family in alternative ways. The metaverse was perfect for this and you saw some serious promotion and revenue generated from it.

However, these systems were primitive at best and often quickly slapped together by smaller teams and didn't bring a lot of value at all to them. Many ended up being digital cash grabs by celebs and the like.

So where are we now with all of that Metaverse stuff in 2024? Let's dive in and see what's currently going on and what we could expect by year end.

The Metaverse Now

The biggest names in the metaverse at the moment are...
Still Axie Infinity AXS with a market cap of 1.1 billion

It hard to say if one should call Axie a real metaverse though so let's move more into those digital type worlds.

SAND

Sand is a classic metaverse token and one of the ones that really took off during the last bull run. Reaching nearly $7 a token it currently sits at just $0.58.

Not all so great and not all too much action going on there right? How about another?

MANA

Mana otherwise known as decentraland peaked at a little over $5 in the last bull run. It currently sits close to that of SAND at just $0.52 per token.

Again not much action and demand there once again. It's mostly getting it's small pull from the general overall wealth of the crypto market now reaching near 1 trillion dollars and it's ties to those high assets like Bitcoin and Ethereum.

The Metaverse

The metaverse seems pretty dead and it doesn't seem like these platforms are going to gain all that much more attraction. Such they kind of do their thing and do ok about it all but I find it hard to believe they are going to attract masses again.

So what might attract the masses by year end?

Mega corps are at it again and had the capital all during the bear market to continue their development on these projects.

It's now reported that GTA6 and Especially Fortnite are seeking to heavily push into this area.

Here's something to keep in mind about the metaverse and really web3 and just how everything works. Nothing happens instantly instead it's a combination of technological evolution and the perceptions of value. You'll notice lots of development and innovation etc happens when there's preserved value. But there also is when sparks of new tech come out which give us the abilities to progress faster and opens up new opportunities.

The lag we are seeing with web3 is actully a natural process no matter how frustrating it may seem. We simply still lack the tech, infrastructure and capabilities to really implement sold good web3 solutions but they are slowly getting there.

It might not feel like it but Fortnite has actully started to enter this metaverse on their own. Through new and more often partnerships with shows (via skins and other things to buy in the game) to new options of playing within the game. Lego Fortnite = Minecraft
Racing Mode = Rocket league
Guitar Hero = well the random guitar thing you can do

This is more of a step between web 3 and the metaverse and what the company is currently don't as none of this runs on any blockchain. (Damn I wish it did lol) but the chances of that happening are most likely slim at least at the moment with all the government crack downs, crazy taxes etc.

The biggest hype right now is coming from rumors of GTA6 but that things not expected to come out until Summer of 2025 another year and a half away. But it's speculated that GTA 6 very well could have an economy based on cryptocurrency.

It really feels like for mass adoption of gaming and true metaverse we are still a few years away. But during all of that time you now have the possibility to making some serious games if you foresee and invest in what you believe will be the next push towards web3 and the metaverse.