Amidst earnings falling short, Tinder's parent company believes that metaverse may not be the right match yet.
Amidst earnings falling short, Tinder’s parent company believes that metaverse may not be the right match yet.
Tinder’s first foray into web3-related research and metaverse development was previously envisioned by the exec. She unveiled the ambitious “Tinderverse” project after acquiring a video-AI and augmented reality firm – Hyperconnect – last year. However, the CEO of its parent company, Bernard Kim, said the online dating app will take things slow citing “uncertainty” in the space.to shareholders this week, Kim said Tinder was able to realize the monetization successes that it typically delivers.
Tinder Coins initiative is yet another initiative that the firm plans to scrap. It first floated the idea of a virtual currency in October 2021. The goal was to encourage users to spend more time swiping, scrolling, and subsequently spending real money on the dating app in the US.
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