Mark Zuckerberg on the Metaverse
CEO of Meta Platforms, formerly Facebook, Mark Zuckerberg, discussed the metaverse with Jim Cramer, the host of CNBC’s Mad Money.
In his interview last Wednesday, the Facebook co-founder forecasts that the metaverse will become a major part of his company’s business in the next ten years. Elaborating on Meta’s metaverse projects he said:
“Our playbook over time has been build services, try to serve as many people as possible — you know, get our services to a billion, two billion, three billion people, and then we basically scale the monetization after that.”
Zuckerberg added:
“We hope to, basically, get to around a billion people in the metaverse doing hundreds of dollars of commerce each.”
People could be “buying digital goods, digital content, [or] different things to express themselves” in the new reality, he said.
Listing a couple of examples of metaverse purchases, Zuckerberg mentioned “clothing for their avatar or different digital goods for their virtual home or things to decorate their virtual conference room.” People can also spend in “utilities to be able to be more productive in virtual and augmented reality and across the metaverse overall,” the CEO added.
Nevertheless, the metaverse experience is still in its early stages, he continued:
“I still think it’s going to take a while for it to get to the scale of several hundreds of millions or even billions of people in the metaverse, just because things take some time to get there.
So that’s the north star. I think we will get there. But, you know, the other services that we run are at a somewhat larger scale already today.”
Although Zuckerberg’s Meta lost $10.2 billion on its metaverse projects in 2021, he opined:
“We are at this point, you know, a company that can afford to make some big long-term research investments, and this is a big focus.”
Recent filings with the United States Patent and Trademark Office, or USPTO, on May 13, showed Meta filed five applications for a platform called Meta Pay. The social media giant also opened up a metaverse store in California that same month.
Last week, Meta, Microsoft, Nvidia and other leading tech companies created a metaverse standards group, set to build an interoperable metaverse infrastructure.
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Source: igaming
