Company executives shared their perspectives on the Metaverse with The Wall Street Journal. Phil Spencer, President of Xbox, compared the Metaverse concept to a game that is poorly designed.
Last year, Facebook signaled its future direction by rebranding to Meta. While the company’s name change initially coincided with a surge in cryptocurrency exchanges and NFT projects, recent months have seen a downturn in the cryptocurrency market, a waning interest in NFTs, and a lack of success in virtual projects. These developments have diminished confidence in both the company and the broader Metaverse market.
The Wall Street Journal, a renowned economics and business publication, conducted meetings with officials from various technology companies to discuss the future of the Metaverse concept.
Criticism from Spencer to the metaverse
In discussions with The Wall Street Journal, Xbox President Phil Spencer shared his views on the Metaverse, likening it to a poorly designed video game.
Spencer emphasized that game developers already possess remarkable skills in creating captivating worlds, expressing his disinterest in spending time in a Metaverse that resembles a “meeting room.” Similar criticisms were echoed by other figures during the WSJ interviews.
Snap CEO Evan Spiegel compared the Metaverse to living inside a computer, remarking that the last thing he’d want after work is to immerse himself in a computerized world.
Officials from Apple and Disney also expressed reservations, indicating their reluctance to use the term “metaverse.” Further insights from these interviews with various other notable figures can be found in the WSJ coverage.
Despite his critical remarks, Phil Spencer acknowledges that the concept of the Metaverse will undergo change and evolution in the future.
“I’m being somewhat facetious when I say it’s like a bad video game. I actually believe it’s just early in its development,” Spencer commented, suggesting that in the future, the Metaverse will resemble video games. This viewpoint adds to the ongoing debate surrounding the Metaverse, a concept that has sparked considerable controversy.
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