- The concept of the metaverse is still unclear.
- That didn’t stop dozens of executives from speaking out about their Metaverse strategies.
- Executives from Roblox, Tencent, Bumble, Bilibili, Coinbase and other companies weighed in.
Online dating apps, a crypto exchange and a professional wrestling brand are among the many companies that tried to weave their disparate and unrelated businesses into the Metaverse discussion this quarter.
The concept topped analysts’ minds after Facebook last month changed its corporate name to Meta, “an embodied Internet where you’re in the experience, not just watching it,” As defined by the Chief Executive Officer Mark Zuckerberg.
Zuckerberg is betting on the Metaverse, a computer-generated world where people will work, play and socialize using the company’s virtual reality headsets.
But authorities around the world have very different opinions on what the metaverse is and when we can expect it. Some see the metaverse as something that already exists, such as the world created by Roblox. Others see it as a vaguely futuristic concept.
When questioned about his plans for the Metaverse after earnings this week, the executive’s answers were everything. Nothing else. Most forward-thinking business opportunities don’t shy away from brainstorming that could boost stock prices. It’s not clear whether they will actually materialize – or if the ideas even make sense.
Neil Stephenson, who popularized the term in 1992, said, “All I can do is kind of sit back and watch it in awe.” The book “Snow Crash,” told Businesshala in a recent interview.
Here’s what we “learned”.
roblox CEO David Baszuki: “It’s called the metaverse today. We’ve called it human co-experience,” Baszuki defines the metaverse as a place where technology combines high-fidelity communication to tell stories, the mobile gaming and entertainment industries. borrows from
“This new category of metaverse or co-experience is based on eight fundamentals,” said Baszuki: identity, social, immersive, low friction, diversity, anywhere, economy and civilization.
Warner Music Group CEO Stephen Cooper: “I think within these large-scale metaverses, Fortnite, Roblox and others, we’ll start to see an opportunity where content and distribution provide convergence. And when you start to look at the global reach, the number of people spending meaningful time in these new worlds, I think it provides a universe of opportunity for Warner.”
Vonage Holdings (Cloud Communications) CEO Rory Reid: “I think it’s the next 5, 7, 10 years.”
bilibili (Chinese video-sharing site) CEO Rui Chen: “The Metaverse is a concept, it is not a product. And before the concept emerged, there were actually many elements already associated with the Metaverse. Be it virtual reality, a tight social community or a system of social systems or a Self-reinforcing ecosystem, it already exists, and many companies are already developing products on those concepts, for example, Facebook and Tencent, and in fact, Bilibili is one of them.
So I guess if someone hears the metaverse concept and decides to get into this business it’s probably going to be a while. This is because those elements such as social systems, self-reinforcing ecosystems, all of which cannot be done in a few months or even years.”
Tencent President Chi Ping Lau, “On the Metaverse, I think it’s actually a very exciting, but a little vague concept.”
Dolby Laboratories CEO Kevin Yemen: “The metaverse, I think, can take many forms, but ultimately it’s an audiovisual experience.”
chinese game maker net ease Margaret Shea, Head of Investor Relations: “Metaverse is really the new buzzword everywhere today. But then, on the other hand, I guess nobody’s really had direct experience with it. But at NetEase, we’re technically ready. We know that’s relevant How to accumulate information. -How, relevant skills when that day comes. So, I think when that day finally comes, we’ll probably be one of the fastest runners in the metaverse space.”
coinbase Co-Founder and CEO Brian Armstrong: “I think that with the millions of Americans who are now using this asset class for all kinds of things, not just for financial services and unique payments and things like that, but for art and governance and identity. New forms and the metaverse. And it’s so exciting that millions of young, talented young people across America are coming to this field.”
Chris Cox, CEO HasbroWizards of the Coast: “The first step to participate in the Metaverse, you must have a digital game. I think the Metaverse is shorthand for, hey, Entertainment is Digitizing and Entertainment is the Game of Life.”
bumble (dating company) president Tariq M. Shoukato: “At the Metaverse piece, we’re really taking a Web3 lens specifically at this, which means we’re … I’m sure someone else will be building more virtual experiences and when they do we will.” Will happily engage and be there. Avatar, etc. But what we really think is really interesting in the near term is the application of blockchain and crypto to the experience of our communities in general. Basically, we just We are not an ecosystem, but a community of people. That’s true on Bumble and Badoo, but it’s especially true as we think about Bumble BFFs.”
“And the opportunity to really get our members involved and really think about the members who are participating in this community is really, we think, really exciting. And so we’re continuing to experiment. We have some tests that we’re very excited about that we’ll be rolling out around this in the coming months, but we think it’s a first leg. It’s something that’s going to develop. We’re sure What we want to do is establish the technical and engineering foundations for whatever emerges in the world of the Metaverse and Web3.”
Ryan Steelberg, Veritone (AI Software) Co-Founder: “Just a simple example, imagine now that one of our big media partners, like ESPN or CBS News, has all of their content, in effect, ready for seamless integration with the Metaverse, right where that content goes all day. Live offline. More traditional means of distribution like OTT or linear television.”
Qualcomm CEO Cristiano Amono: “If you were going to spend time in the Metaverse, then Snapdragon is going to be your ticket to the Metaverse.” (Facebook’s Oculus headsets currently run on Qualcomm chips.)
Veritone CEO Chad Steelberg: “I think the metaverse is, by definition, much bigger than the new meta company aka Facebook. By definition, it’s a multiverse, which is going to move both content and information into the digital realm, and then “Obviously, the digital realm is coming back with us into our physical selves.”
Unity Senior Vice President Mark Whitten: “Whatever the term Metaverse means, it will be created by millions of content creators, and we are on a mission to give them easy-to-use and high-performance tools that will bring their vision to life.”
roblox Chief Product Officer Manuel Bronstein: “At Roblox, we want to add over 1 billion people to the metaverse.”
roblox Chief Business Officer Craig Donato: “We expect ad agencies to have the ability to create the Metaverse experience.”
Disney CEO Bob Chapek: “Suffice it to say that our efforts to date are only a prelude to the time when we will be able to connect the physical and digital worlds even more closely, creating storytelling without boundaries in our own Disney metaverse.” will be allowed.”
match group (dating companies) CEO Sharmistha Dubey, ,There’s a piano bar, for example, where people’s digital selves are gathering, but they’re actually at home playing their piano and jamming with others. You can listen to conversations, join conversations, you can tap into their digital avatars to see more of their profile, and you have a rich set of prompts to help you connect with basically anyone. It’s come-to-life metaverse experiences that are transformative in a way that transforms how people meet and get to know each other on a dating or social discovery platform and is similar to how people interact in the real world. “
Unity CEO John Riccicello on Unity’s play for the Metaverse through its acquisition of Weta Digital: “It’s really going to help us build the metaverse around the notion that the world is a better place with more creators. And now millions of creators in the world who consider themselves to be artists are welcome on our platform and we have found something that makes them happy. So, it really puts something under our platform that, at least from an artist’s perspective, is really magic and they’re the biggest tappable audience in our universe.”
Question from Laura Martin, Analyst, Needham: “Okay, great. And then you guys mentioned NFT a couple of times. So it’s — can you shape it up for us and more generally how do you feel about the role, the metaverse? And going into the digital online world, and can you imagine what NFTs are going to be — is the meta really going to be a big deal, like quitting live, you guys actually working in the live world, the physical world But how do you feel about the metaverse? And in that context, how do you think the NFTs can grow as part of the new metaverse?”
world Wrestling Entertainment Chief Revenue Officer Nick Khan: “We think it’s strong now. We think it’s going to continue to grow and probably get even stronger, and we think it’s here to stay.”
Martin: “Ok, thanks.”
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