The metaverse that was the hot thing in tech less than two years ago has cooled.
Walt Disney Co. has shut down the division that was developing its metaverse strategies, The Wall Street Journal reported this week. Microsoft Corp. recently shut down a social virtual-reality platform it acquired in 2017. And Mark Zuckerberg, who renamed Facebook as Meta Platforms Inc. META 1.37%increase; green up pointing triangle to signal his seriousness about the metaverse, focused more on artificial intelligence on an earnings call last month.
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