
The Metaverse boom: brands unite and Apple takes a rain check
The metaverse was supposed to be the next internet. In 2021 and 2022, major brands poured hundreds of millions into virtual real estate, digital fashion, and immersive experiences. Facebook rebranded to Meta. Nike acquired a virtual sneaker company. Gucci sold digital handbags. The hype was enormous — and so was the crash that followed. What Actually Happened with the Metaverse The metaverse, as it was marketed in 2021, promised a fully immersive 3D internet where people would work, shop, and



