The Metaverse Is Facing a ‘Cooldown Moment’ Amid Crypto Winter

The hype around the metaverse has cooled down, according to Cathy Hackl, chief metaverse officer at innovation and design consultancy Journey. Hackl said this was not necessarily a bad thing, as many continue to build towards the long-term vision of the metaverse as the future of the internet, despite brands such as Disney deciding not to pursue the concept. Meanwhile, the second annual Metaverse Fashion Week has kicked off, featuring luxury brands including Dolce & Gabbana, Balmain and Tommy Hilfiger. However, obstacles to accessing the metaverse still exist, such as the need for a virtual wallet and technical issues like servers crashing. Hackl said these problems could be resolved as the concept moves to more mainstream platforms like Roblox and Fortnite, making it more accessible.