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Metaverse: Tinder and Bumble are taking a close look

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Sharp-elbowed IT companies are eager to get on the metaverse bandwagon from every angle. Two of the most well-known dating app companies have realized that the metaverse is a good fit for their business strategies.

On a quarterly earnings call this week, Bumble’s Founder and CEO Whitney Wolfe Herd informed shareholders of the news when she started mentioning metaverse and Web 3.0. She stated that Bumble BFF, a friend-finding app, was getting a futuristic makeover.

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“We’re looking at this from a Web 3 perspective in the metaverse,”. “I’m sure someone will create a more virtual experience, and we’ll be happy to participate”. “But, in the short term, we think the application of blockchain and crypto in general to the experience that our communities enjoy is incredibly exciting,” Shaukat said.

Shukat did not give a direct answer when asked about Bumble’s crypto plans, instead implying that the company had “some interesting things up our sleeve”. Moreover, he spoke in more general terms about the need to promote “decentralization”. And gave the “engineering community both inside and outside of the company” some “level of ownership and participation.”

Tinder too.

Bumble’s announcement came just days after Match, the Tinder dating app’s operator, announced its own ambitions to establish a dating-focused metaverse realm. It will feature avatars, AR and VR elements in the app.

Tinder currencies will most likely constitute the economic backbone of this new paradigm. In its Q3 earnings call, Match indicated that it was already testing the tokens in numerous regions, including Europe.

Tinder users will be able to use the coins to increase their profile exposure and pay for Super Like features. Users will be given money to incentivise in-app actions, according to the business.

However, dating app behemoths aren’t the only ones with an opinion on the metaverse. According to Morgan Stanley, the metaverse is on track to “fundamentally disrupt the medium through which we socialize with others,”.

Companies are currently constructing their own “thriving” versions of the metaverse, according to the firm’s Equity Strategist Edward Stanley. However, “genuine” metaverse is unattainable without interoperability.

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Michelle D. Madsen

Michelle D. Madsen graduated from the University of Westminster and has been deeply involved in the world of finance ever since. She has worked as a Broadcast Journalist hosting various news shows and informative webcasts about the financial markets. Since 2004 she has also been writing for Metanews daily, her attention to detail, and her in-depth knowledge of the financial markets have led her to cover Foreign Exchange and commodities. The world of finance has changed in the last few years with the introduction and rising popularity of cryptocurrencies. She has in no means been left behind, adding this to her bank of intellect and is now also an expert in cryptocurrencies. For the last ten years, Ms. Madsen has been engaged in the financial market. She has notedly written a great number of incredibly informative reviews for the crypto exchange and forex brokers. Her wealth of knowledge has enabled her to become a leading expert in the field. She continues to inform the public writing up-to-date, thorough reviews for the readers of Metanews as she has for the last decade.
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