The metaverse is still taking shape, causing many companies to make a serious effort to take advantage of the growing trend. Meta, formerly Facebook, is one of those businesses, led by Mark Zuckerberg, who has been one of the most vocal proponents of the metaverse. Despite Meta’s billions of dollars worth of success, count former Nintendo of America President and COO Reggie Fils-Aime as a skeptic of their plans to build a metaverse.
Fils-Aime believes that Meta is too big and too far removed from the people to do it correctly. He said that the digital future instead will be driven by smaller companies that are innovating and doing “really compelling things.”
“Facebook itself is not an innovative company,” said Fils-Aime. “They have either acquired interesting things like Oculus and Instagram, or they’ve been a fast follower of people’s ideas. I don’t think their current definition will be successful.”
The rise of innovative, smaller firms that are currently in seed or funding rounds also suggests that more consolidation is in store for the industry. Fils-Aime pointed to successful acquisitions like Take-Two Interactive Software Inc.’s purchase of Zynga Inc. and called Microsoft Corp.’s recent bid for Activision Blizzard Inc. “a fantastic purchase.”
(All information was provided by Yahoo! News)
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