Take-Two CEO is skeptical about Facebook’s metaverse, says it could be unpopular

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  • Take-Two CEO Strauss Zelnick did not completely dismiss the idea of ​​the Metaverse, a term used to describe an online digital world where people can interact using avatars in real time on multiple devices. Huh.
  • But based on that definition, Zelnick said his video game company already dominates the so-called metaverse.

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Take-Two Interactive CEO Strauss Zelnick on Thursday expressed doubts about Meta’s Metaverse aspirations, telling Businesshala that he believes the Facebook-parent company’s vision for a digitally connected universe may be unpopular. .

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In an interview on “Squawk Box”, Zelnick did not completely dismiss the idea of ​​the Metaverse, a term used to describe an online digital world where people can interact using avatars in real time on multiple devices. can. But based on that definition, Zelnick said his video game company already dominates the so-called metaverse.

“I would argue that we are probably the biggest metaverse company on earth if you look at it in terms of revenue and profits because we are in [‘Grand Theft Auto Online’], which is really what I think defines the Metaverse today, ‘Red Dead Online’ and ‘NBA 2K’ Online Edition,” Zenick said, referring to the three video game titles published by his company.

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“As a digital space we can go to have fun, to talk with other people, to play, to drive a car, to engage in criminal activity, to be the police that stop that criminal activity and You can have fun along the way, we’re already in that business,” Zelnick protested.

Meta CEO Mark Zuckerberg’s vision of the Metaverse is a virtual world where people can live, work and play – all within virtual reality. Zuckerberg announced last week that Facebook was changing its name to Meta, a move he said was designed to reflect the company’s growing ambitions beyond social media. In addition to owning Instagram and messaging service WhatsApp, Meta is the parent company of virtual reality headset maker Oculus.

Zuckerberg has said that he expects the metaverse to reach a billion people within the next decade. He also suggested that the metaverse could host “hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers.”

Take-Two’s Zelnick said he doesn’t think the meta’s vision of the metaverse is what consumers want, arguing that they want to focus on entertainment and fun rather than a virtual extension of real life.

“I suspect we’re going to wake up in the morning and deliberately sit at home, strap on our headsets and conduct all our daily activities,” Zelnick said. “We had to do this during the pandemic, and we really don’t like it that much.”

Zelnick’s comments came after Take-Two posted better-than-expected earnings for the last quarter. The company also increased its adjusted 2021 sales outlookk, citing huge demand for its three biggest online titles. Shares of Take-Two jumped 4.8 percent on Thursday.

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