![]() “It’s kind of a race to get to a billion users. “The next three years are going to be critical for all of the metaverse-aspiring companies like Epic, Roblox, Microsoft, Facebook,” he said. Epic’s Sweeney similarly told Bloomberg that metaverse hopefuls are in a race to draw the largest audience of players and participants. ![]() “We're kind of in a hurry to make this happen,” Siu said of building an open, composable metaverse before major players have a chance to exert power and establish structures. ![]() Last month, Yat Siu-co-founder and Executive Chairman of Animoca Brands, which has invested in dozens of crypto and metaverse startups-told Decrypt that he views Facebook and Chinese tech giant Tencent as “threats” to an open metaverse. However, many in the crypto world fear the influence of a powerful, centralized company like Facebook. The firm also says that it will build in collaboration with other creators and companies, with CEO and co-founder Mark Zuckerberg claiming that it will build “responsibly” in the space. The company is investing heavily in the space, and plans to hire 10,000 people in Europe as part of the push. At its annual conference last month, the company shared its vision for an online world in which users hang out, play games, and even work in such 3D spaces, as well as use NFTs to customize their spaces, collect digital merchandise, and more.Īlong with the demonstration, Facebook rebranded its parent company to Meta. ![]() User-owned NFT assets, tokens used to represent ownership over digital items, are expected to play a large part in what’s expected to be a series of shared, interoperable, online environments.įacebook has emerged as the largest potential player in the emerging space. The metaverse refers to the potential future evolution of the internet, in which social interactions, games, and even work will increasingly take place via avatars in 3D environments. “The metaverse is a term like the internet,” said Sweeney, per a report from Bloomberg. ![]()
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