Bad news from Epic Games manager to those who collect land from the Metaverse

Marc Petit, the executive director of Epic Games and general manager of Unreal Engine, expressed concerns about the waning interest in the Metaverse, stating, “Who wants to be a cartoon character without legs? It is not attractive.”

The Metaverse is often described as an advanced form of virtual reality technology, where individuals can create and utilize three-dimensional avatars as their digital representatives.

However, there is currently no universally agreed-upon definition for the Metaverse, as it remains more of a conceptual idea. Despite being touted as the future of the internet, Facebook’s rebranding to ‘Meta’ has heightened interest in this burgeoning field.

While the term “Metaverse” generated excitement, unfulfilled promises have dampened enthusiasm. Epic Games executive Petit believes that the ambitious vision presented by companies like Meta and Microsoft may be decades away from becoming a reality. A survey indicates that a minimal number of teenagers own augmented reality devices capable of connecting to the Metaverse, and their regular usage is also relatively low.

Epic Games, despite its criticism of other projects, is actively advancing in the Metaverse realm through its popular Fortnite game. Additionally, the company is developing Unreal Engine, a major platform used for game creation, positioning itself as a competitor to Microsoft and Valve.

The latest update, Unreal Engine 5, streamlines the creation of NFT-based ‘win-as-play’ (P2E) productions. Petit advises enthusiasts to be patient, as he believes that experiencing the promised augmented reality universe with graphics from the 1980s will not be appealing. He emphasizes, “We haven’t seen anything yet.”

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