Tinder gave up the metaverse, the internal currency, and the CEO - the weak quarterly report

Tinder gave up the metaverse, the internal currency, and the CEO - the weak quarterly report

Match Group, which owns Tinder's most popular dating service, has announced the suspension of work on metallurgical projects, the rejection of plans to introduce the internal currency of Tinder Coin on the platform, and the resignation of the General Director of Renate Nyborg, who was the first woman in the post.

Ms. Nyborg had previously talked about Napoleonic plans for a proprietary metaverse Tinderverse: last year, the service absorbed the HyperConnect company specializing in video work, artificial intelligence solutions and added reality, but now the new unit has been instructed to reduce costs due to the difficult economic environment and lack of clarity about the actual operating mechanisms of metallurgical technologies. The direction is not shut down; the company will return to this issue when the situation is clear, and the economic environment will be easier. Especially since during the second quarter of this year, HyperConnect has shown an operational loss of $10 million, which has changed the operating income of $210 million over the same period last year.

In February, the currency was available in a number of countries, but it is now likely that a step back will be taken, even though the company wanted to announce the full launch of Tinder Coin in the third quarter.

The second quarter application was $795 million against the $804 million predicted by analysts, and on the third quarter, the company projected a stagnating figure of 790–800 million.