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Building a Sustainable Metaverse: Lessons from the Virtual Land Collapse

Crypto's metaverse sector has been hit hard since 2021, but the future remains bright. Here's why.
Building a Sustainable Metaverse: Lessons from the Virtual Land Collapse
William M. Peaster William M. Peaster
Aug 1, 2024 • 6 min read
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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. 

Of course, there’s the macro factor. The general slowdown around NFTs in recent years has affected all sectors, like art, collectibles, games, and beyond. 

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William M. Peaster

Written by William M. Peaster

1028 Articles • View all      

William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he covers the onchain frontier with a particular interest in art, games, and other culture apps. He has a background in creative writing and writes fiction in his free time.

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