Bitcoin News and Finance
Mark Zuckerberg Expects Billions of People to Use the Metaverse Generating Massive Revenue for Meta Skip to main content

Mark Zuckerberg Expects Billions of People to Use the Metaverse Generating Massive Revenue for Meta

Mark Zuckerberg Expects Billions of People to Use the Metaverse Generating Massive Revenue for Meta

Mark Zuckerberg, CEO of Meta, formerly Facebook, has shared how the metaverse will be a key part of his business and bring hundreds of billions of dollars in revenue. “Our playbook over time has been build services, try to serve as many people as possible,” said Zuckerberg.

Mark Zuckerberg on the Metaverse

Mark Zuckerberg, the CEO of Meta Platforms, formerly Facebook, talked about the metaverse in an interview on Wednesday with Jim Cramer, the host of CNBC’s Mad Money.

The Facebook co-founder explained that he expects the metaverse to be massive and become a major part of his company’s business over the next decade. Commenting on Meta’s metaverse efforts, Zuckerberg said:

Our playbook over time has been build services, try to serve as many people as possible — you know, get our services to a billion, two billion, three billion people, and then we basically scale the monetization after that.

“We hope to, basically, get to around a billion people in the metaverse doing hundreds of dollars of commerce each,” he continued, adding that people could be “buying digital goods, digital content, [or] different things to express themselves” in the metaverse.

Some examples of what people can purchase are “clothing for their avatar or different digital goods for their virtual home or things to decorate their virtual conference room,” Zuckerberg listed. He added that people can also buy “utilities to be able to be more productive in virtual and augmented reality and across the metaverse overall.”

However, he admitted that there is a long way to go, stating:

I still think it’s going to take a while for it to get to the scale of several hundreds of millions or even billions of people in the metaverse, just because things take some time to get there.

“So that’s the north star. I think we will get there. But, you know, the other services that we run are at a somewhat larger scale already today,” he affirmed.

Zuckerberg envisioned experiences in the metaverse to be more immersive than text, photos, or videos, noting that people can even make eye contact when meeting in the metaverse. The technology “basically adds up to making it deliver this realistic sense of presence,” the Facebook co-founder added.

“We are at this point, you know, a company that can afford to make some big long-term research investments, and this is a big focus,” the Meta CEO opined.

Last week, Meta, Microsoft, and 31 other companies formed a metaverse standards group. In March, Meta filed eight trademark applications for its logo and Meta Pay covering the metaverse and crypto services.

Several large firms have estimated the size of the metaverse. McKinsey & Company said last week that the metaverse could generate $5 trillion by 2030. In March, Citi predicted that the metaverse could be a $13 trillion opportunity with five billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley both see the metaverse as an $8 trillion opportunity.

What do you think about the metaverse comments by Mark Zuckerberg? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory