Tinder Is Dropping Its Digital Currency & Metaverse Plans

screenrant.com:

Match Group, the company that owns the popular dating app Tinder, has announced that it is scaling back its plans for 'metaverse dating' and the so-called Tinder Coins. Alongside Tinder, Match Group also owns other notable dating services, such as OkCupid and Match.com. While the former is a popular dating app used by millions of people worldwide, the latter is a dating website that has been around since the mid-nineties – long before online dating became mainstream. Earlier this year, the company also launched a dating app called Stir, specifically for single parents.

Tinder is one of the most popular dating apps in the world, alongside the likes of OkCupid, Bumble, Plenty of Fish and eHarmony. It was launched in 2012 before the famous swipe feature was introduced the following year. While the app's basic features are available for free, it also offers a paid subscription called Tinder Plus that allows unlimited matches. In contrast, the free version limits the number of right swipes made in 12 hours. As of Q1, 2022, Tinder has 75 million active users, including 10.7 million paid subscribers.

Related: What Is The 'Reality Check Calculator' That Went Viral On Tinder?

Match Group chief Bernard Kim has asked Tinder's Hyperconnect unit to scale back the company's metaverse dating plans. In a shareholder letter, Kim said that the decision not to invest heavily in the metaverse was taken due to the lingering uncertainty about the success of virtual dating. However, he was also cautious about writing off the virtual dating scene, saying that the company will «continue to evaluate this space carefully, and we will consider moving forward at the appropriate time when we have more clarity.»

The Match Group is also adopting a