Epic Games' CEO: "No Company Can Own the Metaverse"

Highlights

As CEO Tim Sweeney pushes back against centralized authority, the Fortnite creator sees the metaverse as a "multi-trillion-dollar" potential.

With Facebook's rebranding to Meta, the developing online metaverse has gotten a lot more attention. Additionally, this year, we do not need to mention the NFT market rise and growing interest in Ethereum-based metaverse gaming.

Epic Games, the company behind Fortnite, sees a lot of potential in the metaverse, but its CEO isn't looking to dominate it all by himself.

In the wake of the company's legal battles with Apple and Google, Epic Games co-founder and CEO Tim Sweeney spoke out against closed software ecosystems at this week's Global Conference for Mobile Application Ecosystem Fairness in Seoul, South Korea. He also stated that the metaverse is a broad idea that a single body should not govern.

The metaverse refers to the internet's potential future growth, in which social interactions, games, and even work will increasingly be conducted through avatars in 3D environments. User-owned NFT assets, tokens that reflect ownership of digital goods, are projected to play a crucial role in developing a series of shared, interoperable online ecosystems.

Facebook has emerged as the most promising new player in the industry. The business discussed its vision for an online world in which users hang out, play games, and even work in such 3D environments and use NFTs to decorate their places, gather digital items, and more at its annual conference last month.