Former Google CEO Eric Schmidt expressed skepticism about the metaverse, pointing out the confusion surrounding the concept and its implications for people.
Having served as the CEO of Google for 10 years until 2011, Schmidt highlighted that despite Meta (formerly Facebook) focusing on the metaverse sector, a clear and agreed-upon definition of the concept is still lacking.
During an event in Colorado, Schmidt shared his doubts about Meta being the company to define and shape the metaverse, stating, “There is no consensus on what the metaverse is, even though a company has changed its name in anticipation of identifying it.”
Lands and investments in Metaverse
Companies and countries are making substantial investments in the metaverse, a technology closely associated with Virtual Reality (VR) and Augmented Reality (AR) technologies and their applications.
South Korea, recognizing the metaverse as a pivotal technology for the future, has announced plans to allocate $177 million directly to metaverse platforms. The goal is to support national companies interested in this technology, and this initiative is expected to be launched in May.
Addressing the topic of real estate within the metaverse, the former CEO also conveyed that he is not concerned about not acquiring a significant amount of private land in the metaverse.
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