2022 was the year the wheels fell off the metaverse bandwagon, which had been the most hyped narrative as the year began. By far the worst-performing sector in blockchain, the average drawdown was 89%.
Even Facebooks grand plans to dominate the metaverse are in disarray; its losing more than $1 billion a month, while the flagship Horizon Worlds attracts fewer than 200,000 users per month.
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