Facebook metaverse launch events failed miserably: did Zuckerberg bet on the wrong horse?

  • Facebook ran three virtual concerts for metaverse fans via Oculus VR, but despite the presence of The Chainsmokers and Young Thug, the events dropped dramatically.
  • If this is an indication of how much meiteaverse Facebook will be interested in, then Mark Zuckerberg might be a big surprise: will Meta rebound?

Facebook is the company that is always in the news, whether for election mediation and data misuse or to increase video views to mislead companies and make more money. His most recent move, which has made headlines, was the move from Facebook to Meta, with which he is a metaverse venture. But if you have to watch out for the recent launch efforts, Meta has got off to a very rough start.

At the end of 2021, Facebook announced a series of virtual concerts to promote its metaversa platform, calling them the first gifts from Santa Claus to music fans. The social media giant introduced award – winning hip hop artist Young Thug, DJ and producer David Guetta, and electronic music icons The Chainsmokers on December 26, 31 and January 1, respectively. The artists performed live on Horizon Venues, Facebook’s metaverse platform.

There was a small problem: the concert was largely ignored by the target audience.

Worse, the concerts were free, but Facebook fans found a way not to attend. Other than the lousy comments, the events have hardly been mentioned on social media platforms, be it Twitter or Facebook itself.

Artist Young gave only about 100,000 scenes. Guetta, one of the world’s biggest hits, was only able to collect a million views, and the Oculus Facebook affiliate took advantage of The Chainsmokers’ EDM exercise. If you consider that Facebook is a company known for augmenting video views up to 9 times just to earn more money, it shows how little attraction the events had.

So what happened to the Facebook concerts?

At first, the performances were disappointing. Guetta’s performance, for example, was in 2D, despite being held at the prestigious Louvre in Abu Dhabi. The other two weren’t much better either.

But the thing is deeper. Meta promised that its VR users would be happy to stay home on Valentine’s Day or New Year’s Eve and put on their VR headsets to watch some artists perform in a virtual reality space. Zuckerberg was clearly wrong and while the virtual world is gaining a lot of ground, we have not yet reached a point where it can completely replace real life.

But this does not mean that the metaverse bet is completely wrong. More and more people decide to spend more time exploring the virtual world. Undoubtedly the pandemic has helped some VR games to generate huge interest while people stay at home. Even now, at the world’s largest consumer electronics event, CES, nearly half of the exhibitors choose full virtual experiences or incorporate some features like metaverse.

Facebook will undoubtedly be a leader in the metaverse space, especially since it owns one of the world leaders in VR headsets at Oculus. But, as these three concerts have shown, we are not yet ready to go.

Esdras Collins

Esdras Collins is an early investor in bitcoin and a veteran trader in the cryptocurrency and foreign exchange markets. He is fascinated by the complex possibilities of blockchain technology and is committed to making the subject accessible to all. His reports focus on the development of various cryptocurrency technologies.

Latest Publications