Global electronics giant Sony has announced that it will take a more focused approach when it comes to Metaverse experiences as part of its entertainment strategy. The company that owns the Playstation brand revealed that prior investments in Epic, makers of the Fortnite game, and Bungie, another gaming studio, are part of this new push.
Sony will take the Metaverse seriously
Gaming and entertainment brands are now striving to integrate Metaverse experiences to entice more users to enter their ecosystem. Sony, one of the most influential companies when it comes to entertainment and gaming, has announced its interest in incorporating more Metaverse-inspired experiences to attract customers.
At an annual strategy meeting held this week, Sony Chief Executive Kenichiro Yoshida said:
The Metaverse is at the same time a social space and a live network space where games, music, movies and anime intersect.
Sony’s prior investments in other companies include Epic Games, creator of the popular online franchise Fortnite, and Bungee, creator of the Destiny series, and are part of this new focus. According to data presented by the company, over 50% of revenue in the last fiscal year came from Sony’s entertainment division, which includes services related to gaming, movies and music.
PlayStation vs. Other Metaverse Players
Sony intends to use its Playstation brands to secure a place among the leaders in the metaverse industry. The Sony Playstation has one of the largest installed userbases in the world, so it can serve as a tool for this new metaverse push. In this sense, the company stated that it intends to “leverage the unique strengths provided by its diverse businesses and expertise in game technology … to create new entertainment experiences within the arena of the metaverse.”
However, the company is already catching up with others in the field like Meta, which is producing hardware to provide its customers with the Metaverse immersion experience. Meta VR is the owner of the Oculus brand of headsets and offers its flagship Metaverse app called Horizon Worlds exclusively for owners of these products.
Microsoft is another company that positions itself to be a Metaverse player, acquiring Activision for about $69 billion dollars as the Metaverse approaches, and launching a corporate Metaverse mesh for its team meeting suite.
Sony has already introduced its VR2 line of headsets to work in conjunction with the PS5 line of consoles. The headset was rumored to be set for release this year, but it may be delayed until 2023 due to supply chain issues.
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