Meta Has a Meta Problem, Not a Metaverse Problem

Mark Zuckerberg has been the internet's favourite villain for the past decade. Untouchable by even the US government, and impervious to Covid-market weakness, Zuckerberg's reign over web2 is unmatched, unrivalled, but bitterly unpopular.

However, with the acceleration of web3, Zuckerberg's villainous throne has been challenged by the likes of Su Zhu, Do Kwon and most recently Sam Bankman-Fried. That aside, Zuckerberg's empire has failed to retain its dominant incumbency in the dawn of web3, and Meta stakeholders are paying the price. Its metaverse embrace, which even led to a complete rebranding from Facebook to Meta, has proven to be a thorn in the web2 giant's side, but is it a reflection of the wider metaverse landscape?