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Why did the metaverse die? Because Silicon Valley doesn’t understand the concept of fun
(www.fastcompany.com)
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The metaverse died because it didn't mean anything, there was no clear thing you could point to and say "this is the metaverse". It was a collection of buzzwords designed to sell a dream to investors and nothing more.
"Metaverse" was the idea that you would use only Meta services instead of the wider Internet. Much like AOL and Yahoo tried back in the 90s and 00s.