The Metaverse Is Inevitable but Not How Mark Zuckerberg and Meta Expect
The Metaverse Is Inevitable but Not How Mark Zuckerberg and Meta Expect
The Metaverse Is Inevitable but Not How Mark Zuckerberg and Meta Expect
Nearly a year after its much ballyhooed rebrand, Meta’s stock plummeted 57%. CEO Mark Zuckerberg lost roughly $70 billion of his net worth. The financial strain also forced the company to slash budgets and freeze new hiring.
It is easy to take delight in the schadenfreude of one of the richest and most powerful companies in the world taking in losses.
However, the truth is the metaverse is inevitable. In many ways, it is already here and has been here for decades. A key component of a successful metaverse that many folks within the metaverse space tend to miss: video games—or gaming.
“The future of the metaverse is games,” Jon Radoff, the founder of metaverse consulting firm Beamable, “Games are going to be what the metaverse is all about.”
The most successful metaverses now like Roblox, Second Life, and Fortnite are based in video games. Rather than accepting the fact that there are thriving metaverse platforms like Roblox and building off those existing technologies, the Meta has instead backed itself into a corner where the only way to access their metaverse is by purchasing an expensive and cumbersome piece of equipment.
For now, the fact remains that the metaverse has already been here for a while—and it’ll continue growing and developing into new and different ways for people to socialize and collaborate. It just might not be the one that Zuckerberg has in mind.
Want to know the additional key reasons why Jon Radoff thinks Meta has made mistakes in their metaverse strategies?