The CEO of Take-Two is wary about Facebook’s ‘Metaverse’, claiming that it may be unpopular

Facebook recently made a drastic move; the infamous company changed its name to, ‘Meta’ and announced a new venture known as, ‘Metaverse’. Most people are still wary of the company due to the recent scandals however metaverse does seem promising.

Nevertheless, Take-Two Interactive CEO Strauss Zelnick questioned Meta’s metaverse ambitions on Thursday, telling CNBC that he believes the Facebook-owned company’s idea for a digitally connected cosmos will be unpopular.

In an interview on “Squawk Box, Zelnick did not completely dismiss the concept of the metaverse, an online digital realm in which individuals can communicate with avatars in real-time across numerous platforms. However, according to that description, Zelnick’s video game corporation already controls the so-called metaverse.

What is Metaverse?

The metaverse, according to Meta CEO Mark Zuckerberg, is a virtual world where individuals may live, work, and play in virtual reality. Last week, Zuckerberg announced that Facebook would be renamed Meta, a move he said was intended to represent the company’s expanding goals outside social media. Meta is the parent company of virtual reality headset maker Oculus, in addition to owning Instagram and WhatsApp.

Zuckerberg has stated that he wants a billion individuals in the metaverse within the next decade. He also claims that the metaverse may “host hundreds of billions of dollars in digital commerce, as well as millions of employment for creators and developers.”

Whereas, Take-Two’s Zelnick believes Meta’s concept of the metaverse is not what customers desire, arguing that people prefer entertainment and enjoyment over a virtual extension of real life.

It is worth mentioning Take-earnings Two’s for the prior quarter was greater than predicted, prompting Zelnick’s comments. The business also boosted its adjusted sales forecast for 2021, noting strong demand for its three most popular online games. On Thursday, Take-stock Two’s increased by 4.8 percent.

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Bianca is a content creator & a passionate blogger. She is a professional tech blogger & an avid reader. She loves to explore topics related to tech.