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The initial euphoria for the metaverseso much so that Mark Zuckerberg has bet on the future of Facebook, it is getting colder and several companies are slowing down investments: among these there is Match Group, the parent company of Tinder, the popular dating app.
After a quarterly report below expectations of analysts and growth forecasts reduced to a flicker, at Tinder have decided to revise the strategy. The first turning point comes right from Tinder CEO Renate Nyborgthe one who had become the company’s first female CEO last September: she said goodbye to Tinderprobably due to disagreements with Match Group’s new CEO, Bernard Kim, who has been in the saddle for about two months.
Nyborg had ambitious plans for Tinder’s entry into the metaverse, so much so that she coined the term Tinderverse. The innovative experience, which from the point of view of Big Tech will allow a more natural and advanced virtual interaction than today thanks to viewers and other gadgets, seemed the ideal landing place for a company that makes meetings between people its business model. .
For this reason, last year, Tinder bought Hyperconnect, a company that works on video, artificial intelligence and augmented reality. Tinder and Hyperconnect were working on an evolution of Hyperconnect’s Single Town, on an avatar-based virtual world where users would converse in virtual spaces via voice and then choose whether to bring the meeting into real life.
That commitment, however, was frozen by the Match Group CEO. “Date uncertainty about the final contours of the metaverse and what will and will not work, as well as the most demanding operating environment, I hired the Hyperconnect team to don’t invest heavily in the metaverse right now. We will continue to carefully evaluate this area and consider moving forward when the time is right when we have more clarity on the overall opportunity and we will feel that we have a well positioned service to be successful. “
Not just metaverse, plans for Tinder Coins also change, an in-app currency that Tinder hoped would encourage customers to spend more. “After seeing conflicting results from tests on Tinder Coins, we decided to do step back and review that initiative so that it can contribute more effectively to Tinder’s revenue. “
The idea was to distribute virtual coins as a reward to users active on the service and, at the same time, also allow direct purchase to access premium features such as “Super Likes”. Pioneered gradually since February in a handful of markets around the world, Tinder Coins were due to debut by the end of September.
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