Turkey is experiencing a “metaverse winter”

Experts say that Turkey is going through a “metaverse winter” as the excitement of purchasing lands on the metaverse has passed.

Levent Eraslan, head of the Social Media and Digital Security Research Center (SODİMER), said, “Those who considered the metaverse as an investment tool and were affected by the quick decline of the market value lost faith in it.”

According to Eraslan, lately, interest in the concept of a metaverse has decreased in Turkey.

“Nevertheless, it is essential and important to properly understand the concept of the metaverse, that is also explained as the digital boom and is thought to begin a new era, define numerous future ecosystems and determine the philosophy of this world”. Eraslan warned.

The expert added that metaverse presents a market chance which cannot be ignored and has the potential to generate a value of up to $5 trillion by 2030.

According to Eraslan, reducing the concept of metaverse to environments where we communicate with virtual reality glasses or to land buying and selling transactions in the world of metaverse causes alienation from this concept.

“The metaverse winter in Turkey is worrying.”

This concept’s falling off the agenda is named “metaverse winter”.

SODİMER Vice President Tugba Yulet Yılmaz said that the reasons for the “Metaverse Winter” were revealed by taking the opinions of members of the Türkiye Metaverse platform.

She emphasized: “With the reduction of the epidemic and people turning to face-to-face work and socializing, interest in the metaverse has decreased because the need for virtual spaces has decreased as well.

Yilmaz said that a large part of people consider Metaverse as selling virtual land and making money, adding that they have distanced themselves from this concept due to the negative atmosphere in the digital currency market.

“People may be tired of hearing and seeing the term metaverse frequently and consider them too much marketing terms,” she added.

Meantime, another reason was that many companies cut their costs as inflation peaked. During the summer period, the decision-making mechanism of the companies was stopped.

Metaverse, that is named “the future of the Internet,” allows people to meet each other on virtual world platforms. The social network company Facebook, which released a virtual reality world titled “Facebook Horizon” in 2019, changed the name of the company to “Meta Platforms” and announced that it has efforts to develop a metaverse global ecosystem.

The term “metaverse”originates in the 1992 science fiction novel ‘Snow Crash’ as an example of both ‘meta’ and ‘universe’.

Decentraland, that was officially founded in February 2020, became the initial popular metaverse platform where people purchase virtual lands value millions of dollars, using digital currencies.

Turkish Education Minister Mahmoud Ozer said on March 25 that Turkey will start models for integrating the metaverse and augmented reality with education, especially in vocational schools.

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