Take-Two CEO Skeptical of Metaverses, Worthless Digital Land

Photo of Take-Two CEO Strauss Zelnick wearing a suit and smiling.

picture: Jonathan Lipson (Getty Images)

The metaverse has quickly become a popular topic of speculation for tech companies and wealthy CEOs scrambling not to be left behind as people search for ways to escape the hellish digital landscape of the present day. But the metaverse is (probably) a giant bust, and Strauss Zelnick, CEO of GT And the Borderlands Publisher Take-Two predicts that companies investing in blockchain-powered metaverses are full of digital lands that really don’t have any value that may not be around for long.

As I spotted it VGCin meeting with Gamesindustry.biz yesterdaythe CEO spoke about his surrounding doubts More old and new companiesjumping to attach themselves to metaverses, Which suggests that it’s probably not a good idea to invest in buzzwords“People who invest behind buzzwords may not end up with great results,” he explained.

He was quick to point out, however, that he’s not skeptical about the idea of ​​a metaverse-like product — which he defines as something “massive, interactive, dynamic, entertaining” — referring to popular Take-Two games like GTA Online And the NBA 2K As examples of successful metaverse-like worlds.

“So I am a dyed believer that people are going to the digital realms of entertainment,” Zelnick explained. “And if you provide a super entertaining experience I think people will flock to it.”

However, Zelnick is skeptical of the sudden influx of new and old companies all trying to build metaverses. We’ve seen what happens on Facebook And other companies in the field of creating large digital worlds. The end results are often boring, lifeless, and only existentIt rarely gives players a reason to stay or visit again. Zelnick notes that creating big, great, popular video games and online worlds is “really hard,” costing a lot of money, and taking years of hard work to achieve.

“So when a company that didn’t exist two years ago launched in a white paper a blockchain-based metaverse that sold hundreds of millions of dollars of digital real estate in the span of two days, sure, I was a little skeptical,” Zelnick admitted.

It seems to him that it doesn’t really make sense that these new digital worlds are worth so much money, when by most measures there is no entertainment to be offered.

“I have a healthy respect for how hard it is to entertain people indoors [digital worlds]”With no reason given for the visit, I don’t know why the drug has any value,” Zelnick said. “And that seems to have been lost in the shuffle.”

Read more: Metaverse already exists for cows which is very sad

If you say that this argument certainly helps to position his own company and his already existing games which are very popular on the internet like GTA Online As leaders of the future digital economy, I would say you have a very correct view. But his view makes sense, too. None of these new metaverses created by the company Full of blockchain technology and NFTs are fun places. So far, people don’t exactly flock to hang out in these places – well, besides the people who have spent thousands of dollars on digital items, worlds, and Who really need you and your friends to buy all this bullshit.

And of course, Zelnick hopes so for him The company will be one of the most successful going forward, as the demand for entertainment in digital worlds continues to grow. But he predicts that many companies investing in all of this will not have a happy future, noting that “just calling something a ‘metaverse’ is not a guarantee that what you’re doing will be valuable or desired.

But of course, eventually, all speculation ends. Zelnick said the question is not whether the question is when. “And when a lot of money gets thrown into one word, and there’s some of that going on, you can probably guess how it’s going to turn out for a lot of people, and I think the answer is ‘Not good.

Leave a Comment

Your email address will not be published.