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.