Amidst a disappointing set of earnings for the last quarter, Match Group has announced it’s scaling back Tinder’s metaverse dating ambitions and scrapping plans to offer an in-app Tinder Coins currency. Tinder CEO Renate Nyborg, who became the dating app’s first female CEO just last September, is also leaving the position, parent company Match Group’s CEO Bernard Kim announced. Kim himself was named as CEO just two months ago.

Nyborg previously set out ambitious plans for Tinder’s take on the metaverse (or “Tinderverse” as she called it). Tinder acquired a company called Hyperconnect last year, which focuses on video, AI, and augmented reality technology, and Nyborg later cited its avatar-based “Single Town” experience as a way Tinder’s...

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