Tinder Dumps Metaverse and Virtual Currency
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Tinder Dumps Metaverse and Virtual Currency

2 months ago

"We'll continue to evaluate this space carefully, and we will consider moving forward at the appropriate time when we have more clarity on the overall opportunity," Tinder's parent firm says.

Tinder Dumps Metaverse and Virtual Currency

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Tinder has announced that it's swiping left on the metaverse.

In a new update, the dating app's parent company said it is halting investment in virtual worlds.

Match Group's chief executive officer Bernard Kim said:

"I believe a metaverse dating experience is important to capture the next generation of users."

However, he said there's uncertainty about what will or won't work — meaning it doesn't make sense to splash too much cash for now.

"We'll continue to evaluate this space carefully, and we will consider moving forward at the appropriate time when we have more clarity on the overall opportunity and feel we have a service that is well-positioned to succeed."

This echoes what Vitalik Buterin was saying earlier this week, when he warned corporate attempts to create a metaverse will fail.

He specifically singled out Meta and Mark Zuckerberg, and stressed it's simply too early to tell what people want yet.

The bad news doesn't end here, as Tinder Coins are also being rejected following "mixed results" in testing. The in-app currency was designed to allow singletons to buy extras such as Boosts and Super Likes.

An update from Match Group also revealed that Renate Nyborg is stepping down as Tinder's CEO after less than a year in the job.

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