The year 2024 was a year of great upheaval for metaverses. Optimism around virtual worlds collided with reality: a collapse in prices for digital real estate, the closure of popular platforms, large companies refusing to invest in AR/VR, and tightening government control. However, despite the doubts of large corporations, companies like Holiverse continue to actively develop and set the vector of development in the market, introducing innovative solutions and finding new ways to use metaverses. Let's look at the key moments that determined the fate of the metaverses and set the trend for 2025.
Collapse of the digital real estate market
Until recently, virtual lands seemed like a promising investment. However, in 2024, prices for plots in Decentraland, The Sandbox and other platforms collapsed by 95% from their peak values.
Source: coingecko.com/nft, Dune Analytics
What is the reason? The general public is not yet ready to fully utilize the possibilities of virtual real estate. Although interest in digital assets remains high, the real demand for virtual lands turned out to be lower than expected. Many users prefer traditional forms of digital interaction, and developers are faced with the challenge of creating truly on-demand services and infrastructure for the convenient use of virtual property. This has led to a significant decrease in prices, but opens up an opportunity to rethink the concept of digital real estate and create more practical solutions for its use.
Platform closures: a lesson from Echo VR
A striking event of the past 2024 was the sudden closure of the popular VR game Echo VR. For many, it was not just a game, but a full-fledged digital community. The developers, without warning users in advance, simply turned off the servers, leaving players without the ability to save their progress and connections. This case raises important questions: how stable are metaverse projects? Can users count on a long-term presence in virtual worlds? Perhaps the industry will have to develop new mechanisms for managing and interacting with the community to make digital spaces more sustainable. In the meantime, the question remains: will companies be able to find a balance between commercial interests and user needs?
Large corporations are leaving AR/VR
Betting on AR and VR as the foundation of the metaverse turned out to be risky. In 2024, giants like Disney, Microsoft and Apple began to cut back or completely close their projects in this area. Disney has closed its metaverse division, Microsoft has abandoned the development of HoloLens, and Apple has postponed the release of AR glasses. Meta, which previously actively invested in VR, also announced a budget cut for its projects in this area.
The main reasons for such a massive departure of large players are high development costs, low consumer demand, and the lack of truly mass applications. Despite ambitious plans, companies faced problems with monetization and a lack of unique content that could retain users. In addition, the slow growth of VR headset sales showed that consumers are not yet ready to switch to virtual reality en masse.
An additional factor was the development of alternative technologies, such as artificial intelligence and Web3, which began to attract more attention and investment. The question of the future of AR / VR remains open: either the industry will find new ways to conquer the market, or this segment will remain a niche and lose its significance.
The future of the metaverse: medicine, games, and new horizons for Holiverse
While large corporations are cautiously retreating from the metaverse, more agile and daring companies continue to pave the way for the digital future. This is not just enthusiasm -- it is a search for real benefits that virtual worlds can bring to humanity.
One of the most impressive technological breakthroughs in 2024 was the DNA avatar from Holiverse.
Source: https://holiverse.ai/
This development allows users to create a digital copy of themselves based on their genetic code. The opportunities of this approach are amazing: testing the body's individual response to certain diets, medications, and even predicting potential health risks -- all in a safe virtual environment. The metaverse is no longer just a space for entertainment and is becoming a tool for personalized medicine. This opens up opportunities for safely testing the effectiveness of treatments or lifestyle changes before applying them in real life.
Apart from medical solutions, metaverse is becoming an important platform for fintech. Holiverse launched HoliDEX, a decentralized exchange that has already demonstrated impressive results. The first trading pair was POL/USDT, which allowed the system stability to be thoroughly tested and ensured its further improvement.
In just the first week of operation, the total locked value (TVL) on the platform reached $2 million, doubling in a short time. HoliDEX has already surpassed many established DEXs on Polygon in terms of liquidity and trading volume, and in 12 hours after launch, the platform reached $1 million TVL.
China takes control over the metaverse
Government regulation of the metaverse is becoming an increasingly serious topic, especially in China. In 2024, the country's authorities began to intensively control virtual worlds, introducing censorship, user monitoring, and strict content requirements. This not only threatens free speech, but also has the potential to affect the global metaverse market. If this approach is successful, other countries may follow China's example, leading to the fragmentation of a single digital space.
The danger of data leaks: a time bomb
Another looming threat is data privacy. The metaverse collects a huge amount of information: movements, biometric data, emotions of users. So far, there have been no major leaks, but experts warn that it is a matter of time. Given that some platforms are practically unregulated, the risk of unauthorized collection and use of data remains extremely high. This could cause the biggest scandal in the industry.
What's next?
The year of 2024 has shown that the metaverse is not just hype, but a real technological evolution. But its success depends not on loud statements from large corporations, but on real solutions that bring benefits. If the industry can find a balance between innovation and the real needs of users, the metaverse can become not just a part of the digital future, but its core element.
Media info,
Contact person, Mathw Miller
Organization,Holiverse
Email, info@holiverse.ai
Website, https://holiverse.ai/
Address, New York, USA
COMTEX_463287607/2908/2025-03-03T10:45:11