The CEO of Epic Games highlighted that there is currently a race between companies to appear with a massive number of users but the idea, in the end, is that this space gets characterized by decentralization.
The co-founder and CEO of Epic Games, Tim Sweeney, pointed out that although the metaverse represents the best opportunity for many companies and developers, there will be no company that will establish itself as the absolute owner of this new space.
Sweeney’s statements came to public light during a conference held in Seoul, South Korea. During that conference, the Chairman shared his opinion about the birth of this new space called the metaverse and the legal disputes he has with companies such as Apple and Google over the theme of the payments associated with the popular Battleroyale Fornite.
The race To Reach the Metaverse
Sweeney spoke out his opinions because of the constant competition between several companies in the industry that want to approach the metaverse with all their strength.
His comments also appeared due to a discussion about the ecosystem of products and services that would have their roots entirely in virtual reality, which would mean a new sector with great opportunities for all companies that aspire to grow in this space.
Many products, games, and services inspired by virtual reality are already a reality. The meta-verse would represent a sector almost as large as the Internet itself since every user would have total interaction with avatars and walk as if they were it was a parallel world.
In the race to reach the vast world of the meta-verse, Facebook has precisely been the company that has hit the table hard. Recently, the parent company of the social network and applications like WhatsApp and Instagram revealed a complete rebrand to be renamed Meta by announcing its intentions to go strongly to this new space.
The company also announced that it would hire some 10,000 employees to work in this new meta-verse, gathering enough workforce to advance efforts in the short term.
Opportunity for Cryptocurrencies and NFTs
Given that the meta-verse supposes a virtual reality, many companies anticipated that digital collectibles (NFTs) would have a fundamental role within this environment since their owners would have ownership over virtual elements, aesthetics, or useful tools in this new ecosystem.
On the other hand, there is the inevitable inclusion of cryptocurrencies and other digital assets showing exclusive features that will change the concept people had of money and value. In addition to the already popularly known coins, Facebook is also working on its wallet and has not ruled out plans to launch its crypto asset.
By: Jenson Nuñez
