Navigating the Future of Metaverse Technology Amidst AI Dominance

The evolving landscape of technology continues to captivate investors and traders, with new  frontiers constantly emerging. Data from DappRadar reveals an intriguing trend: investments in the metaverse during the first half of 2023 accounted for just 10% of the figures recorded during the same period the previous year. This raises the question: what lies ahead for metaverse technology?

To shed light on this topic, we turn to Michael Stark, an expert from Exness. He provides valuable insights into the current market dynamics and offers a perspective on the future trajectory of the metaverse in the context of the burgeoning interest in artificial intelligence (AI).

 

 

FXMAG.COM:

Data from DappRadar shows that in the first half of 2023, investments in the metaverse barely accounted for 10% of those in the corresponding half of the previous year. What's next for metaverse technology?

 

Michael Stark, Exness:

For the time being, probably not much. The focus of markets in general and stock markets in particular has shifted decisively onto AI as the new technology with the greatest potential so far this year. That’s borne out by the strong gains made by Nvidia as well as general positivity on tech companies involved somehow in AI.

That doesn’t necessarily mean that the metaverse and web3 are going away, just that they’re not in focus for the large majority of traders and investors and probably won’t be in the immediate future. The layoffs among tech companies late last year and earlier in 2023 underlined the general impression among investors that Meta had shifted focus onto the metaverse too early, before there was significant interest among consumers. 

If, as some traders expect, the Fed starts to pivot in the first quarter of next year, there might be more interest and investment in metaverse tech in 2024, but for now AI mania seems to be here to stay.