Technical analysis by BrankoPetruci about Symbol BLOK on 4/7/2024

Dear friends, A few years ago, both social interaction and game-based Metaverse projects such as Decentraland (MANA), Sand, Ceek, Bloktopia (Blok), Atlas, Raca, Horizon Worlds (Meta) appeared on the scene one after another and became very popular. They had high user and buyer interest. Just like the public segment of the artificial intelligence industry called Generative AI did in the last months of last year. However, during the long winter period of the crypto world, many of these projects were either closed, fell into silence, or some of them continued to invest and improve themselves. For example, Shibaverse, which started out as a joke-meme coin and then turned into a very serious metaverse project, is one of them. I did some research to see if there is any truth to the analyzes made by some analysts saying "metaverse projects are dead". My findings are as follows: 🔹As of October 2022, Mashable Meta (Facebook) reported that Horizon Worlds had fewer than 200,000 users, while Business Insider reported that Decentraland, one of the best-funded Metaverse products, had only around 38 daily active users in its $1.3 billion ecosystem. 🔸Unfortunately, the dull realities of the first metaverse products failed to capture the human imagination. Investments and public interest have quickly moved away from these waters as new state-of-the-art generative AI proves to be more interesting and therefore potentially more profitable. 🔹Metaverse projects have failed due to technical limitations, poor user experience, high cost of entry, the rise of generative AI, and privacy concerns. However; There is still a ground where Metaverse projects are not dead yet, on the contrary, they are developing and many people dream of them as a potential reality of the future. Some points that support this are: 🔹Technological Progress: The Metaverse industry is actively evolving to create more realistic and immersive experiences by adopting new technologies such as Generative AI and personalization of avatars. 🔸User Participation: Although initiatives such as PARIZ metaverse are a bit quiet now, fashion-oriented metaverse projects where users can have fun shopping experiences in brand stores and demand physical products when they buy digital products stand out. The number of monthly users overtook the Sand and Decentraland projects in a very short time. 🔹Hardware Accessibility: Virtual reality and augmented reality technologies have evolved significantly, making immersive experiences more accessible to the general public. VR headsets such as Oculus Quest, Apple Vision Pro have gained popularity and are used for gaming, socializing and even business applications. New players have begun to enter the market to reduce the cost of hardware such as AR/VR glasses and make them more useful. Artificial intelligence is being used to build the creators' economy and make money 🔸Market Potential: News that Apple is working on new AR/VR headsets and Epic Games CEO Tim Sweeney addresses 600 million monthly active users on Fortnite, Minecraft, Roblox, PUBG Mobile, Sandbox and VRChat, the future of the metaverse market gives clues about. 🎯In summary: It seems that the Metaverse has not yet reached its full potential, its future is uncertain for now, but the early investors who have not given up will continue to build an infrastructure that provides opportunities for future human interaction, commerce and entertainment.