‘The Metaverse Fever Dream’

Nick Heer, at Pixel Envy, last week published a remarkable essay surveying — with copious receipts — the rise and fall of “metaverse” hype:

The obsession with the metaverse seems to have solidified in Silicon Valley after Matthew Ball published an essay in January 2020 in which he forecasted that, at the very least…

…it is likely to produce trillions in value as a new computing platform or content medium. But in its full vision, the Metaverse becomes the gateway to most digital experiences, a key component of all physical ones, and the next great labor platform. [...]

Ball published this essay with darkly fortuitous timing. A week earlier, Chinese health authorities had isolated a new strain of coronavirus aggressively spreading in Wuhan; a day before, they published its genetic sequence. Within a couple of months, the world had turned upside down and many of us were suddenly spending our days in a space that felt more virtual than physical. We may have only been working from home — or, at least, those of us who had the option and were not laid off — and socializing over Zoom, all while remembering the last concert we went to or the last time we ate a meal in a restaurant.

Just a tremendous piece of writing and reporting from Heer. What a pile of horseshit “the metaverse” as promulgated by Zuckerberg was. To call what Heer has assembled here, in a compelling narrative to boot, “comprehensive” is a vast understatement. These hucksters were selling a bill of goods and now they’re trying to whistle past their own hype:

As for the futurists like Hackl, who confidently proclaimed the metaverse was “for certain”, they have found an out thanks to its flexible definition. Jeff Barrett, of the Shorty Awards’ “It’s No Fluke” podcast, published a glowing profile of “the Godmother of the Metaverse” earlier this year under the headline “Why Cathy Hackl Keeps Getting the Future Right”. “When enthusiasm cooled and narratives collapsed, many distanced themselves from the space”, writes Barrett, noting with seeming approval that “Hackl did the opposite. She reframed it”. Many people — perhaps everyone, come to think of it — could predict the future if they got to retcon their predictions to fit reality.

Bravo.

★ Monday, 1 June 2026