With all the speculation and hype around the Metaverse and domain names related to Metaverse and meta, this past week had to give one pause. Meta Platforms the parent of Facebook got trounced in the market.
They are losing a lot of money so far in their attempt to build their Metaverse. The stock of Meta Platforms dropped 24% on Thursday. $700 billion in market cap that was wiped away is pissing a lot of investors off.
The division building the Metaverse is Reality Labs, they have lost $9.4 billion in the first 9 months of the year. The company stated that loss would grow substantially in 2023.
Of course every major media outlet around the world has been discussing the company since the stock drop on Thursday. It seems many question just how many decades, yes DECADES it will take to monetize the Metaverse.
There was a lot of hype when the company changed it’s name and recent handregs sold for big dollars.
From a domain investment standpoint the question becomes if it’s worth it to keep buying and registering meta, Metaverse related names?
The problems Meta Platforms might be unique to them and they will not be the only Metaverse. But when other companies see what a company with their size and resources are going through. it might make them have second thoughts about their own meta aspirations.
This article is not a recommendation to take part or abstain from meta/metaverse related domains, that’s the reader’s choice. But I do think taking a look at what’s going on in the space is worth noting.
Best of luck.
I read a lot about the Meta shares drubbing at the stock market. It is not a joke that 700 Billion Dollars were wiped out with the crash of 24% in Meta Price.
With all prudency warranted, I have decide to stop buying any Meta or Metaverse related domain names. And whatever names that I have in my portfolio, I will sell them at throw away price now.
It’s too early for Metaverse. Generations away.
Everything has its goal, this happened with Ethereum and Bitcoin but then they have come back and make a lot of noise this like everything else is future what will come in less than 5 years.
“Meta or Metaverse” has lost a lot in the stock market, speed is normal, it does not open a way to settle down and grow slowly, not everything in a big way!
There will be more falls in the Blockchain and Nft stock market, they could be the following, I do not affirm it but everything is possible, in these times
I think about the future and its destiny, there is never an end, it comes back
I had domains in the first drop of Bitcoin and I kept the sales of 2 years ago over 5 figures (I still have Bitcoin, Ethereum, Crypto, Nft, Blockchain, Meta and Metaverse…)
, with metaverse or meta it will happen the same, it is better to save than to sell cheap.