The inventor of the popular video game console PlayStation – Ken Kutaragi – thinks the Metaverse is pointless. He doesn’t think much of VR headsets either, he calls them “simply annoying”.
“Being in the real world is very important”
The Metaverse has quickly become one of the hottest topics, especially after social media giant Facebook changed its name to Meta late last year.
Although the network of 3D virtual worlds is becoming a trend focused on social connections, it is not an intriguing niche for everyone. One of those people is Ken Kutaragi – the creator of PlayStation and former CEO of Sony Interactive Entertainment.
In a recent interview For Bloomberg, the 71-year-old Japanese argued that the Metaverse is not the next big step in the tech universe. For him it has more separating than connecting functions:
“Being in the real world is very important, but the Metaverse is about making the virtual world quasi-real, and I don’t see the point of that. Would you rather be a polished avatar than the real you? This is essentially no different than anonymous messageboard sites.”
Separately, the engineer admitted he’s also not a fan of virtual reality headsets. He believes they can isolate people from reality and are therefore “just annoying”.
Who thinks differently?
While Kutaragi is against the Metaverse, the world’s largest wealth management firm – Grayscale – is not. Not so long ago, it was believed that the niche would be valued at more than $1 trillion in the next few years.
The investment giant pointed out that Metaverse’s potential is not only linked to the gaming sector, but goes far beyond. Advertising, digital events, social commerce, and developer/creator monetization are all aspects that are built into the industry.
Haim Israel — a strategist at Bank of America — is also optimistic on the matter. In his view, the Metaverse is a tool that would propel the crypto universe toward mass adoption, provided certain conditions are met:
“I definitely think this is a huge, huge opportunity. You need the right platforms…this is definitely going to be a huge opportunity for this whole ecosystem.”
Israel also believes that the Metaverse is where “we’re going to start using cryptocurrencies as currencies.” However, bitcoin, ether and the other private digital assets are currently too volatile to fit into this role. As such, stablecoins would likely evolve as they are pegged to fiat currencies or precious metals and therefore tend to be much less volatile.
Featured image courtesy of Aroged
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