It was a rare day in 2022 when there is not a metaverse-related announcement of some kind: another vision, statement or predication about its glorious future, a new metaverse solution, service or start up, another capital investment or acquisition. Alongside this is an endless drip feed of media coverage and speculation. This paints an exciting, hyped-up picture of the metaverse but also makes it impossible to navigate and get a balanced view. A recalibration of the metaverse in long overdue, and in this session we will cut through the hype to provide a realistic take on the opportunities along with the many challenges facing the consumer metaverse.