Online dating is heading into the metaverse with everyone else and Tinder parent company Match Group (MTCH) has a plan to capitalize on the next steps into cyberspace.
Match sees the metaverse as an opportunity for the company to fulfill its mission of helping people make "meaningful connections" through the company's platform. But instead of swiping right or left, digital avatars will be interacting with each other.
"Now, the technology that is relevant to our world is the one that allows us to create experiences online where people can meet each other, discover each other more serendipitously and real time through shared experiences in a way that is more akin to how they would do in real life" CEO Shar Dubey said during the company's most recent earnings call."
In relation to the metaverse, Match sees itself as "sort of a virtual club" where singles can mingle in rooms together in cyberspace based on shared interests.
Daters will be able to strike up a conversation with other avatars in the room, tap on info to check out full profiles and message them.
Hyperconnect Purchase Will Fuel Metaverse Ambitions
If you're wondering how Match plans to build this apparatus look no further than the company's $1.725 billion purchase of Hyperconnect last June.
The South Korean company is described by Match as a leading social discovery and video technology company that is focused on next generation engagement "regardless of borders and language barriers," according to Dubey.
Hyperconnect operates two social discovery apps: Azar and Hakuna Live.
Azar offers one-to-one live video and voice chat services and already has a strong presence in Asia and a growing one in Europe.
Meanwhile, for the metaverse side of things, Hakuna Live provides group live video and audio services as well as avatar-based streaming in South Korea, Japan and other markets across Asia.
The company recently launched Hakuna city, and the platform has over 20 million global downloads. As of the end of 2020, Hakuna was second place in South Korea non-game app revenue.
"Beyond just the real-time live, low-latency video, audio technology that they have, there are additional technology elements, everything from what's -- the pieces of the virtual human technology, the virtual world technology, also live audio and video connection based on location -- connections that are based on locations on a map for instance and so on," Dubey said.
