Epic Games CEO Declines That Metaverse is Dead | by Crypto Navigator | Coinmonks | May, 2023
Epic Games CEO, Tim Sweeney, has disputed the claim made by Business Insider that the Metaverse is “dead.” In a recent tweet, Sweeney pointed out that there are 600 million users across virtual world platforms, such as Fortnite, Minecraft, Roblox, The Sandbox, and VR Chat. He sarcastically suggested that it was time to hold an online wake for the 600 million monthly active users to mourn the passing of the Metaverse, as the article stated.
Epic Games has heavily invested in the Metaverse. In April 2022, the company announced a $2 billion funding round, which included a $1 billion investment from Sony Group and KIRKBI, the holding company behind the LEGO Group, to accelerate its plans for the Metaverse. Epic Games and LEGO Group also announced a long-term partnership to build a “family-friendly” Metaverse. LEGO Group CEO, Niels Christiansen, stated that they are looking to announce more details soon.
The Metaverse is a term used to describe a shared virtual space where users can interact with a computer-generated environment and each other in real-time. The concept has gained popularity over the past few years, with companies like Facebook, Roblox, and Epic Games investing heavily in the technology. While some argue that the Metaverse is still in its early stages of development, others see it as the future of the internet, where users can interact and engage in virtual experiences beyond the limitations of the physical world.
Sweeney’s defense of the Metaverse is understandable, given that Epic Games is a major player in the virtual world space, with games like Fortnite and Unreal Engine. With the growing interest in the Metaverse, Epic Games is well-positioned to take advantage of this trend and capitalize on the opportunities presented by the technology.
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