![]() ![]() Though CEO Mark Zuckerberg wants Facebook to become an online metaverse, for now Workrooms offers a way for them to do business rather than live in this brave new world. Why does Facebook want us to live in the metaverse?įacebook Workrooms is the social media giant’s attempt to dominate the emerging metaverse market, in what could be seen as a bid to take on Zoom with the magic of virtual reality (VR).ĭoes Facebook want people to live in the Metaverse? Not quite. But beyond gaming, many forward looking executives see a metaverse role for enterprise tech, something which Facebook has recently demonstrated with the launch of its Facebook Workrooms. The metaverse is all about communities, and gaming is an ideal starting point. Game developers with similarly active metaverse offerings could quickly become acquisition targets of the aforementioned big firms, depending on the success of their products and underlying technologies. Meanwhile, social media-blended gaming platforms such as Roblox and game makers like Niantic are joining the Fortnite developer in developing metaverses. Having demonstrated its ability to operate in the metaverse, Epic raised $1bn in April 2021, led by a $200m investment from Sony. The same year saw it host its first ever in-game concert. Prior to the pandemic Epic had already launched a crossover with Disney’s Star Wars franchise to create an event that was both promotion and plot point for 2019 blockbuster The Rise of Skywalker. But there were standouts of a virtual sort to enjoy instead last year: A performance on game platform Fortnite by rap artist Travis Scott, for one, and a full-blown music festival headlined by ’90s legends Massive Attack staged by the video game Minecraft. With lockdowns keeping venues shut around the world, there were few live musical highlights during the pandemic. One of the factors propelling metaverse concepts to front-of-mind has definitely been the pandemic and its impact on the music industry. So what’s actually happening to drive the metaverse as a business phenomenon – and what can we expect next? The epic rise of Epic Microsoft CEO Satya Nadella wants to build an “enterprise metaverse”, and Mark Zuckerberg has said that Facebook will become a metaverse company. And for those who see a business future for the metaverse, 2020 was a breakout year: the year in which the metaverse began to gain traction beyond the entertainment sector and started to enter the mainstream. The metaverse is described by GlobalData social media research as a “virtual world where users share experiences and interact in real-time within simulated scenarios”. ![]()
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