In recent weeks, many people have asked me the same question: Is the metaverse dead? This pessimism is not surprising, considering that Meta’s stock has lost more than half its value since its strategic pivot into the metaverse was formally announced. Adding insult to injury, Meta last week announced major company-wide layoffs, raising fears across the industry.

Trying my best to be objective, I see the current struggles in Meta as a reflection of their legacy business rather than an indication that their metaverse strategy is failing. I think it will take another year or two…