My two biggest regrets in life - not investing in Bitcoin in 2010 and not buying property in the Metaverse after I read about it on a reddit stream in late 2021.
In 2022, $100m worth of property was sold in one transaction - in the Metaverse.
NFT's were flying out the door - Bored Apes costing more than a house in Double Bay. Bitcoin was declining at its highest rate in its short history. People really thought it was over for Crypto.
The Virtual Metaverse was supposed to continue on this run... but what happened?
I have my own thoughts, but I turned to Grok for a bit of the old... in-depth analysis and here are the reasons:
- Crypto winter (2022–2023) crushed liquidity and risk appetite
- Metaverse adoption never materialised (clunky tech, tiny user numbers, no killer app)
- Most projects had no real utility beyond speculation → 95-99% price crash
- High-profile failures (e.g. Decentraland averaging <500 daily users while land traded for $3M+ at peak) exposed it as pure greater-fool speculation
For me, point two hits the nail on the head - adoption never materialised. A lot of people saw the hype and the positive news from the Metaverse (myself included) and only a select few people actually dove in... and even fewer reaped the rewards.
There's now adoption in the wind - you'd remember last week that Samsung is now using its own XR hardware to train staff. Below, you can read about AliBaba and how they have been quietly making a play in the space.
Two elephants... moving in the same direction - adoption is that direction.
Yours virtually,
Reverso
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