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Fortune
Fortune
Peter Vanham, Nicholas Gordon

Meta's metaverse chief admits the 'hype is dead'

Vishal Shah, Vice President, Metaverse, Meta, at Fortune's Brainstorm Tech (Credit: Steven Vargo—Fortune)

Good morning from Geneva.

With all the ongoing generative A.I. fanfare, we risk forgetting that before there was ChatGPT, there was the metaverse, the three-dimensional iteration of the internet that users could enter via virtual reality headsets.

Even a year ago, the hype was still so big that someone forked over $450,000 to be rapper Snoop Dogg’s neighbor in the “Snoopverse" and Citi estimated the metaverse economy would be worth $13 trillion by 2030, Fortune editor-in-chief Alyson Shontell reminded participants at Fortune's Brainstorm Tech conference this week.

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