Match Group Conceives Dating 'Metaverse:' Everything You Want To Know

Match Group Inc MTCH shared its broader plans for a dating "metaverse" and avatar-based virtual experiences that may later roll out to apps across its portfolio, including Tinder.
The inline dating company joins the ranks of Facebook Inc rebranded Meta Platforms Inc FB and Microsoft Corp MSFT, creating ripples with their meta plans.
Match Group aims to expand Tinder and Explore to include exclusive, shared, live experiences and a virtual goods-based economy, supported by Tinder's new in-app currency, Tinder Coins.
The first phase of its development includes Tinder Coins, which Match already tested in several markets, including a few European countries.
Tinder has already undergone a significant revamp with its recent launch of "Explore" to enable more interactive experiences.
Tinder Coins will become available to global users in 2022 to make in-app purchases of Tinder's a la carte products, like Boost and Super Like, aimed at helping online daters get more matches.
Tinder Coins will also serve new pay-as-you-go products that were previously only available with a subscription.
Tinder will evolve its app to include virtual goods and a trading ecosystem aimed for 2022 and beyond.
Match Group had reported Q3 revenue of $801.8 million, up 25% year-over-year, missing the consensus of $802.1 million.
Match Group gained 16.3 million paid subscribers, up 16% Y/Y.
Match Group forecasted weaker Q4 growth than expected with $810-$820 million in revenue below the consensus of $838 million.
Related Content: How Microsoft's Metaverse Stacks Up Against Facebook?
Price Action: MTCH shares traded higher by 0.66% at $149.54 on the last check Wednesday.

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