In Ep. 179 of My Metaverse Minute, Kieron discusses the lack of users on Decentraland and The Sandbox.
Highlights
00:35 – Kieron acknowledges that Metaverse adoption is slow but shares a figure he came across which states that, on average, Decentraland and The Sandbox receive 1,000 daily users despite having valuations of over one billion dollars. He says 1,000 active users on platforms that are becoming increasingly popular seems “incredibly low” to him.
01:08 – The obvious talking point is about improving adoption, says Kieron, but adds that this should not be the angle of focus, as both businesses are working perfectly well on their own. He says that the companies that are using the platforms need to reevaluate why they are doing so. He says many companies are looking “too far ahead” in terms of what is possible.
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02:04 – Kieron says that the scope of what the companies are trying to achieve on these platforms is too big in comparison to the number of users actually using the platforms. He encourages companies to think “more outside the box” in terms of what Metaverse and Web3 are, as there are many different ways an organization can enter the space.
02:42 – The efforts of companies developing spaces in the Metaverse need to be specific and targeted, says Kieron. Kieron says “if you want to make an impact you need to be looking outside these platforms.” Organizations must consider the needs and wants of their customers and create Metaverse experiences that go in tandem with that. He says there are various ways to enter the Metaverse, and they do not have to be through the most popular platforms.
