After Meta, which has been cutting down jobs and predictions for years about its metaverse-adjacent project(s) after losing billions of dollars, Alibaba is also scaling down on its metaverse operations.

According to the South China Morning Post, which by the way is actually owned by Alibaba, the company is getting rid of workers in its metaverse sector at the rate of knots.

I'm convinced we're not talking about it enough but the metaverse appears to have been a huge flop.

The crypto market and the NFT market crashed between 2022 and 2023, but while crypto did make a huge comeback, the NFT/metaverse market didn't.

And it's not just crypto markets and companies either.

Apple, lest we forget, is essentially admitting the Vision Pro was a huge flop.

Some companies are recycling and rebranding resources and patents they initially allocated to the metaverse for AI, but for some reason, everyone's trying to pretend they didn't just waste billions on a non-market.

Interesting.