{"id":480982,"date":"2022-08-04T08:14:02","date_gmt":"2022-08-04T05:14:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/swiping-left-tinder-pulls-back-on-metaverse-dating-plans\/"},"modified":"2022-08-04T08:14:02","modified_gmt":"2022-08-04T05:14:02","slug":"swiping-left-tinder-pulls-back-on-metaverse-dating-plans","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/swiping-left-tinder-pulls-back-on-metaverse-dating-plans\/","title":{"rendered":"# Swiping left: Tinder pulls back on Metaverse dating plans"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2adf76c0f99\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2adf76c0f99\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/swiping-left-tinder-pulls-back-on-metaverse-dating-plans\/#%E2%80%9D_Swiping_left_Tinder_pulls_back_on_Metaverse_dating_plans_%E2%80%9C\" >&#8221; Swiping left: Tinder pulls back on Metaverse dating plans &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Swiping_left_Tinder_pulls_back_on_Metaverse_dating_plans_%E2%80%9C\"><\/span>&#8221; Swiping left: Tinder pulls back on Metaverse dating plans &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNDIwMjIzYjAtMjkzNC00MDM4LThlYjktMDMwOTNjMzA3NWU5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Match Group, the parent company of popular dating <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> Tinder, says it is cutting funding for Web3-related research and development amid disappointing Q2 earnings and the departure of Tinder&#8217;scurrent CEO.\u00a0<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s22.q4cdn.com\/279430125\/files\/doc_financials\/2022\/q2\/Earnings-Letter-Q2-2022-vF.pdf\">letter<\/a> to shareholders on Aug. 2, Match Group CEO Bernard Kim revealed that it will be scaling back its Metaverse investments as well as scrapping plans to release an in-app virtual currency called Tinder Coins.<\/p>\n<p>The move also comes alongside the resignation of Tinder CEO Renate Nyborg, the company\u2019s first female CEO that had initially set out plans to introduce the \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/welcome-tinderverse-tinders-ceo-talks-metaverse-virtual-currency-2021-12-02\/\">Tinderverse<\/a>\u201d after acquiring a video-AI and augmented reality company called Hyperconnect in 2021.<\/p>\n<p>Nyborg had planned for Hyperconnect to further develop its avatar-based \u201cSingle Town\u201d experience as a way for Tinder users to meet and interact with one another in virtual spaces in the future. <\/p>\n<p>While Kim did not explicitly state reasons for Nyborg\u2019s departure, he highlighted that Tinder \u201chas not been able to realize the monetization success that we typically deliver\u201d throughout the past few quarters.<\/p>\n<p>In his letter, Kim said that Match Group would continue to watch the Metaverse space but would prefer to wait for the \u201cappropriate time.\u201d <\/p>\n<blockquote><p>\u201cI believe a Metaverse dating experience is important to capture the next generation of users [&#8230;] However, given uncertainty about the ultimate contours of the Metaverse and what will or won\u2019t work [\u2026] I\u2019ve instructed the Hyperconnect team to iterate but not invest heavily in [the] Metaverse at this time.\u201d<\/p><\/blockquote>\n<p>Kim went on to disclose that plans to release an in-app virtual currency, Tinder Coins had also been scrapped due to \u201cmixed results\u201d from testing. <\/p>\n<blockquote><p>\u201cAfter seeing mixed results from testing Tinder Coins, we\u2019ve decided to take a step back and re-examine that initiative so that it can more effectively contribute to Tinder\u2019s revenue.\u201d<\/p><\/blockquote>\n<p>\u201cWe also intend to do more thinking about virtual goods to ensure that they can be a real driver for Tinder\u2019s next leg of growth and help us unlock the untapped power users on the platform,\u201d he added.<\/p>\n<p><strong>Related: <\/strong><strong>Want a compelling use case for privacy blockchains? Look no further than dating<\/strong><\/p>\n<p>\u201cWe\u2019ll continue to evaluate this space carefully, and we will consider moving forward at the appropriate time when we have more clarity on the overall opportunity and feel we have a service that is well-positioned to succeed.\u201d<\/p>\n<p>The company reported a 12% year-on-year growth in total revenue in Q2 2022, reaching $795 million, alongside a $10 million operating loss due to impairments relating to its Hyperconnect acquisition.<\/p>\n<p> Match Group stock is down 11.39% over the last five days to $63.24 at the time of writing.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/swiping-left-tinder-pulls-back-on-metaverse-dating-plans\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Swiping left: Tinder pulls back on Metaverse dating plans &#8220; Match Group, the parent company of popular dating app Tinder, says it is cutting funding for Web3-related research and development amid disappointing Q2 earnings and the departure of Tinder&#8217;scurrent CEO.\u00a0 In a letter to shareholders on Aug. 2, Match Group CEO Bernard Kim revealed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":480983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNDIwMjIzYjAtMjkzNC00MDM4LThlYjktMDMwOTNjMzA3NWU5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,93542,117],"class_list":["post-480982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-web3","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/480982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=480982"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/480982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/480983"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=480982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=480982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=480982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}