# Navigating the Metaverse Downturn

*Author: Bankless*
*Published: Aug 1, 2024*
*Source: https://www.bankless.com/es/the-metaverse-downturn*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Frame-50488--1--1--1---1-.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=metaverse-lessons-virtual-land&email=true)

  

   Navigating the Metaverse Downturn
  

  
  Published on Aug. 1, 2024

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  View in Browser

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.  .  .

 
  
    
      
      CULTURE NEWS
    
    
  
  
    
  Doodles x AriZona
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-14--21-.png)](https://www.bankless.com/dashboard)- 🧋** New Doodles partnership**. The cute PFP collection has teamed up with [iced tea giants AriZona](https://x.com/doodles/status/1819015179868504423) on a giveaway contest centered around shopping for Doodles-branded AriZona drinks. 
- 🎶** The Bandcamp successor**. Subvert, a new platform and marketplace [for independent music](https://x.com/subvertworld/status/1818994458416812309) that is designed to be owned by artists and fans, introduced its vision and plans today. 
- 📱** Privy integrates Lens**. The popular wallet onboarding service has integrated support for [crypto social network Lens](https://x.com/privy_io/status/1819044184340242863), paving the way to creating Lens apps more easily. 

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    ANALYSIS

  
  
    
   
Building a Sustainable Metaverse: Lessons from the Virtual Land Collapse
  
  
   
     
     Bankless Author: 
     
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       William M. Peaster](https://x.com/WPeaster)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/image---2024-08-01T142044.396-2.png)](https://www.bankless.com/metaverse-lessons-virtual-land)**This week Polygonal Mind, the team behind VIPE, CryptoAvatars, and countless other virtual experiences, announced they were closing up shop because of tough market conditions. **

It’s a sad development, as the Polygonal team have been true metaverse champions, but not necessarily surprising considering how the metaverse sector has been among the hardest hit in crypto’s post-2021 bear market. 

Why is this the case, though?

One big reason is the "land speculation death spiral," a problem that has plagued virtual worlds for years. 

*For today's post, let's dive into this death spiral phenomenon, why it matters, and why the future remains bright for the metaverse*! 👇

[Read the full analysis](https://www.bankless.com/metaverse-lessons-virtual-land)
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