Tinder metaverse, TinderCoin… The company abandons all its projects

Dating app Tinder wanted to create its own metaverse, but it seems the idea fell through, why?

Today almost everyone knows what a metaverse. But to put things into context, here’s a simple little definition. A Metaverse is one virtual worlda simulation of life, but in virtual version. It is valued in a Metaverse that we can meet people, do shopping, all while actually moving in this world with the help of, in particular, virtual reality glasses.

Note that there is already frameless metaverses, only as a PC game (Second Life, for example). Meta (Facebook, Instagram, etc.) has even already developed its own metaverse, which is still gradually being created. In this virtual world, people can therefore, with avatarI DO business meetings, shoppingsee friends, etc.

To go even further, know that the dating app Tinder had planned to create his own metaverse. An opportunity for singles to meet virtually. And, why not, do whatever they want, like in real life, but virtually. Except… It seems the tinder project to make his metaverse was interrupted. Why ? GROUP Match group answer.

Tinder wanted to create its own metaverse for matches in virtual places

In the era when web3 development is booming, multiverses are multiplying and many companies are interested in this market, this is the case of Tinder. Because, dating app à la Flamme wanted to develop its own virtual universe to allow its users to match with Tinder metaverse.

In short, Tinder planned for users to interact in virtually created settings. decorations such as bars, a cinema, a night club, etc. In short, places where it is currently possible to meet people, flirt, find love.

SEE ALSO: Virtual and augmented reality: a new way to play video games

A project that after all will not be realized so soon, a financial concern to despair

We have already told you about this in our article about meeting in the metaverse, but ultimately the Tinder project will not see the light of day. At least, the company has no intention of releasing it Tinder metaverse soon. Maybe it will take months or even years according to Match Group. In fact, it may never happen if development turns out to be too troublesome.

“In the context of INSECURITY in terms of the final sketches of the metaverse and what will and won’t work, and the most challenging operating environment, I asked the Hyperconnect team to repeat, but no invest heavily in the metaverse for the moment “explains Bernard Kim, CEO of Match Group.

This metaverse idea follows the acquisition of Hyperconnect by Match Group (Tinder’s parent company. hyperlinks is a star specializing in virtual reality and artificial intelligence. However, the Tinder metaverse project is proving too troublesome for Match Group, the development is not encouraging. The band was already recording one $10 million loss due to the project, at the end of 2022.

tinder metaverse project (1)

SEE ALSO: Metaverse: a world more dangerous than the Internet?

The failure of TinderCoin, Tinder’s virtual currency: a negative indicator for the group

If that wasn’t enough, tinder virtual currency, imagined in 2021 and to be used for the metaverse, is not a huge success. of TinderCoin it was originally used to provide privileges in the application to those who have it. But, it was a failure, which does not encourage Tinder to reuse TinderCoin for its metaverse.

“After seeing mixed results when testing Tinder Coins, we decided to take a step back and reconsider the initiative so that it can contribute more effectively to Tinder’s revenue. We also intend to think more about virtual goods to make sure they can be a real driver of Tinder’s next phase of growth”explains the CEO of Match Group.

As you may have realized, you won’t be able to flirt with Tinder metaverse users that quickly. Will this project see the light of day? Would you be in? match in a virtually created universe? Tell us in the comments. We are curious to know your opinion on this question romantic encounters in the virtual realm.

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