Metaverse projects failed on lack of correct business model: MetaMinds CEO
As the metaverse loses its appeal to some global tech leaders, MetaMinds Group CEO Sandra Helou argues that failures in metaverse initiatives resulted from the lack of proper business models.
The metaverse may no longer have mainstream appeal to some global tech leaders compared to two years ago. However, weaknesses in the testing of the various investments and initiatives in the emerging technology may have resulted in some of them failing.
On the sidelines of the recent Cardano Summit in Dubai, Sandra Helou, chief executive of MetaMinds Group, told Cointelegraph that the lack of tailor-fit business models for enterprises “have been the biggest failure in the metaverse” and turning to it for short-term wins is not the right approach. She said:
“When it comes to applying technology similar to the metaverse, that in itself requires a massive overhaul and shift in the business vision, teams and business models...