The future potential of the Metaverse, which could best be summarised as a new iteration of Second Life, is a subject that Facebook CEO Mark Zuckerberg, has identified as a defining opportunity for his company.
With much talk of the ‘Metaverse’ within boardrooms across silicon valley, Zuckerberg become the first notable player to make a formal move and thus created an outline of what the next iterations of the social media giant will look like. To reinforce the move, he renamed Facebook, Meta Platforms.
Over the last weekend at the SXSW festival in Austin, Texas, the former Nintendo of America President Reggie Fils-Aimé talked to Bloomberg reporter Emily Chang about disruption in the entertainment sector. During the discussion, he was asked about his thoughts on the subject. He didn’t hold back.
Whilst Reggie Fils-Aimé believes certain driving elements of the metaverse already exist in popular games like Epic Games‘ Fortnite, he is less than impressed with the vision outlined by Mr Zuckerberg and co.
“I don’t think that their current definition is going to be successful.”
Fils-Aimé then goes further, by suggesting that Facebook is not an “innovative company” because they acquire innovative businesses like Instagram, Oculus and WhatsApp and then capitalize on ideas rather than develop and innovate themselves. Harsh, no doubt.
The famed executive believes that the majority of the innovation will emerge from SME’s and start-ups as they are the ones that are innovating within the space.