Tinder metaverse, TinderCoin… The company abandons all its projects

Dating app Tinder wanted to create its own metaverse, but it seems the idea fell through, why?

tinder metaverse project (1)

Today almost everyone knows what a metaverse. But, to put things into context, here’s a simple little definition. A Metaverse is a virtual worlda simulation of life, but in virtual version. It is estimated in a Metaverse that we can therefore meet people, go shopping, all while really moving in this world with the help, in particular, of virtual reality glasses.

Note that there are already bezelless metaverses, only as a PC game (Second Life, for example). Meta (Facebook, Instagram, etc.) has even already developed its own metaverse, which is still being gradually created. In this virtual world, people can therefore, with avatarmake business meetings, shoppingsee friends, etc.

To go even further, know that the dating application Tinder had planned to create his own metaverse. An opportunity for singles to meet virtually. And, why not, to do whatever they want to do, like in real life, but virtually. Except… It seems that the tinder project to make his metaverse was aborted. Why ? The group Match Group respond.

Tinder wanted to create its own metaverse for matches in virtual places

In the era when the web3 development is booming, multiverses are multiplying and many companies are interested in this market, this is the case of Tinder. Because, dating app à la Flamme wanted to develop its own virtual universe to allow its users to match in the Tinder metaverse.

Long story short, Tinder actually planned to have users interact in virtually created settings. decorations such as bars, a cinema, a nightclub, etc. In short, places where it is currently possible to meet people, to flirt, to find love.

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A project that will ultimately not be done so soon, a financial concern to be deplored

We already told you about it in our article about the dating in the metaverse, but ultimately the Tinder project will not see the light of day. At least, the company does not intend to release its Tinder metaverse soon. It will probably take months or even years according to Match Group. In fact, it might even never happen if the development turns out to be too laborious.

“In view of uncertainty as to the ultimate outlines of the metaverse and what will and will not work, and the more challenging operating environment, I’ve asked the Hyperconnect team to iterate, but not invest heavily in the metaverse for the moment “explains Bernard Kim, CEO of Match Group.

This metaverse idea comes following the acquisition of Hyperconnect by Match Group (parent company of Tinder. hyperconnect is a star up specializing in virtual reality and artificial intelligence. However, the Tinder metaverse project is proving very laborious for Match Group, the development is not encouraging. The group was already recording a $10 million loss because of the project, at the end of 2022.

tinder metaverse project (1)

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The flop of TinderCoin, Tinder’s virtual currency: a negative indicator for the group

As if that weren’t enough, the tinder virtual currency, imagined in 2021 and which was to be used for the metaverse, is not a great success. the TinderCoin was initially used to offer privileges on the application to those who have it. But, it was quite a flop, which does not encourage Tinder to reuse the TinderCoin for its metaverse.

“After seeing mixed results when testing Tinder Coins, we decided to take a step back and reconsider the initiative so that she can contribute more effectively to Tinder’s revenue. We also intend to think more about virtual goods to make sure they can be a real driver of Tinder’s next stage of growth”explains the CEO of Match Group.

As you will have understood, you will not be able to flirt with users of the Tinder metaverse so soon. Will this project see the light of day? Would you be in to match in a universe created virtually? Tell us in the comments. We are curious to know your opinion on the question of romantic encounters in the virtual sphere.

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