Unfortunately, there weren’t more than two dates. After the Match Group – to which Tinder belongs – still had great ambitions in October 2021 to take the dating app into new spheres, getting to know each other is over for the time being.
The Tinderverse originally wanted to give love seekers space to get to know each other virtually. Now the digital dating plans seem to be over for the time being. In the current letter to shareholders CEO Bernard Kim and Gary Swidler, COO and CFO comment on the way forward:
I believe that a Metaverse dating experience is important to attract the next generation of users and Hyperconnect has been working on new innovations in this area. However, due to the uncertainty of what the Metaverse will eventually look like, what will and will not work, and the challenging environment, I have directed the Hyperconnect team to iterate but not invest heavily in the Metaverse at this time
Hyperconnect is a Korean chat app developer that Match Group bought for $1.73 billion last year. The two apps Hakuna Live and Azar were created by Hyperconnect.
Both apps allow live video chatting. The company also developed a high-performance peer-to-peer connection, allowing user interactions to function without a mediation server.
The “Swipe Nights”
Tinder started the “Swipe-Night” project with the purchased innovative power. This is an interactive video story. All Tinder users were able to in September 2020 and November 2021 click on the video application in the app. Then a film began to play, which initially started the same for all users.
The video stopped at strategically important points and let the viewer determine how the storyline should continue. Often the decisions that required swiping left or right were moral issues. The decisions that a user made were then visible in the public Tinder profile.
Virtual currency on Tinder?
With the Tinder coin, plans were made to integrate a virtual currency into the dating app. The coin should not only be able to be purchased in monetary terms. Completing the profile should also be rewarded with Tinder coins.
While it’s in third quarterly report 2021 It was still said that the virtual currency would be simple and efficient and could contribute to sales gains, but the current report clearly backtracks.
After seeing mixed results testing Tinder coins, we decided to take a step back and reconsider this initiative so it can contribute to Tinder’s revenue more effectively
Match Group lost about $10 million in connection with the acquisition of Hyperconnect.
Whether it’s a definitive split between Tinder and the Metaverse, however, remains to be seen.
We will continue to carefully evaluate this area and will consider a further step in due course when we have more clarity on the overall opportunity and feel that we have a service that is well positioned to succeed.
In the quarterly report one does not want to finally turn one’s back on the Metaverse area. So it remains exciting to see how the according to stats most successful lifestyle app worldwide from the year 2022.
Like some other companies, Tinder uses the term “metaverse” for immersive, digital experiences. It remains to be seen whether the Tinderverse and the Tinder coins will also be on a blockchain in the future.
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