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No Company can Control Metaverse, Says Epic Games CEO

Epic Games CEO, Tim Sweeney was recently talking to journalists at Bloomberg. During the interview, he was asked about his views on Facebook’s rebranding as Meta. Sweeney responded by claiming that Metaverse is a concept like an internet that should not be owned by any singular personality or an organization.

Facebook’s recent move to rebrand the social media company as Meta has allowed becoming the largest stakeholder for the Metaverse space. However, executives like Sweeney have shown visible opposition towards this attempt. It is worth noting that Metaverse is a concept based on Web3 technology that allows the users to exist in a 3D VR world and interact with others in the same space using NFT technology.

Tim Sweeney was recently attending the Global Conference for Mobile Application Ecosystem Fairness held in South Korea. The initiative has been fighting against closed software organizations like Apple Inc. and Google. Attending the conference, Sweeney told the media that Metaverse is likely to become a multi-trillion-dollar project in the future, and letting one organization operate it like a centralized space is dangerous.

Meanwhile, Yat Siu, the Executive Chairperson and Co-founder of the Animoca Inc. that has invested in several promising blockchain and metaverse projects recently have claimed that tech giants like Tencent and Facebook are posing a massive threat to the Metaverse growth and development. Siu claimed that the early commercialization of the Web3 concept is going to prevent the independent developers host their projects for the platform.

Mark Zuckerburg who is now known as the CEO of Meta has told media that the company is planning to move ahead with the development of the new Metaverse project with great care and responsibility. Meanwhile, the criticism of Sweeney has been taken by the tech stakeholders with a grain of salt. Many people have pointed out that Fornite itself is a closed ecosystem that allows the players to make in-app purchases with real currency.

Many argue that the Fortnite platform wants to buy into the opportunity of becoming a part of the Metaverse ecosystem. For the time being, the future of the Metaverse is unknown. However, many investors are ready to place their bets on the tokens like SAND and MANA considering the recent rise in popularity of NFT and Ethereum-based Metaverse gaming applications.

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