Metaverse projects failed on lack of correct business model: MetaMinds CEO

Weaknesses in the screening of the various financial investments and efforts in the emerging innovation might have resulted in some of them failing.On the sidelines of the current Cardano Summit in Dubai, Sandra Helou, CEO of MetaMinds Group, informed Cointelegraph that the lack of tailor-fit business models for business “have actually been the biggest failure in the metaverse,” and turning to them for short-term wins is not the best technique. She said:”When it comes to applying innovation comparable to the metaverse, that in itself requires a massive overhaul and shift in the service vision, teams and business models … The biggest thing that were seeing is that people did not get their company design right, which is why a lot of them stopped working.”Helous comments come after KPMG recently released a report that found only 29% of tech leaders in the United Arab Emirates and 37% globally think that the metaverse will play a vital role in assisting their businesses attain short-term success.

Weak points in the screening of the various investments and initiatives in the emerging technology may have resulted in some of them failing.On the sidelines of the current Cardano Summit in Dubai, Sandra Helou, CEO of MetaMinds Group, told Cointelegraph that the absence of tailor-fit organization models for enterprises “have actually been the greatest failure in the metaverse,” and turning to them for short-term wins is not the right method. She said:”When it comes to applying innovation comparable to the metaverse, that in itself needs an enormous overhaul and shift in the organization vision, groups and company designs … The most significant thing that were seeing is that individuals did not get their organization model right, which is why a lot of them failed.”Helous comments come after KPMG recently released a report that found only 29% of tech leaders in the United Arab Emirates and 37% internationally think that the metaverse will play an important role in helping their businesses achieve short-term success. According to Helou, the jurisdictions technique toward emerging technologies has made it simpler for contractors to recognize their vision:”Technology is universal … But if you look at the rules and regulations and the ease of commerce that Dubai has actually offered the builders, ceos and creators, it does put it in a prime position for the metaverse to be exceptionally effective for individuals who do raise off from the area.