Eric Schmidt, who was the CEO of Google, has announced that there is confusion about the concept of the metaverse and what it means for people. Schmidt said that, even as a former Facebook-like company stepped up its actions to capture the Metaverse market, there is still no clear definition of the concept and how it will affect people’s lives.
The Metaverse Still Not Defined, According to Former Google CEO Eric Schmidt
Although there are a large number of companies and companies that are already investing and betting money on the development of the concept of the metaverse, but not everyone is so convinced about this topic. Eric Schmidt, an entrepreneur who was previously CEO of tech giant Google from 2001 to 2011, is in the latter group. Schmidt has expressed a degree of skepticism about the importance and adoption of this new technology in the future.
This week, at an event in Colorado, Schmidt expressed his thoughts about the Metaverse. he declared:
There is no agreement on what the metaverse is, even if a company changes its name in anticipation of defining it.
Schmidt was apparently referring to the move that Meta, formerly known as Facebook, pivoted to include Metaverse technology as one of the pillars of its operation. Last year, the entrepreneur took another dig at Facebook, saying he didn’t think Meta would be the company shaping the metaverse, even though the form it would take is as yet undetermined.
Metaverse Land and Investments
However, companies and even countries are already investing heavily in the metaverse, a technology currently associated with VR and AR (augmented reality) technologies and the apps that use them. One of the first countries to have considered the metaverse as a key technology for the future is South Korea, which announced in May that it was looking to kickstart national companies interested in the technology, directly. Metaverse will allocate $177 million to the platform.
Real estate in the metaverse has also been considered a controversial topic by Schmidt. On this issue he said:
I myself am not concerned about buying large chunks of private real estate in the metaverse. It’s not a worry that I have every day.
However, sales of real estate properties in the Metaverse are expected to reach $1 billion this year, according to Metametric Solutions, a Metaverse analytics company.
What do you think of former Google CEO Eric Schmidt’s opinion on the metaverse? Tell us in the comments section below.
image credit: Shutterstock, Pixabay, WikiCommons, Frederic Legrand – COMEO, Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.