Executives wax poetic on the metaverse during Q3 earnings calls
Inspired by Iceland’s new video argues against living life in the metaverse, as Mark Zuckerberg described during Facebook’s transformation to Meta. It was released on October 28, 2021.
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Online dating, crypto trading and professional wrestling were some of the businesses that attempted to integrate their different and often seemingly unrelated business into this quarter’s metaverse discussion.
Analysts were immediately attracted to the idea. Facebook changed its corporate name to Meta last monthIn preparation for the “embodied Internet”, where you can be in it, and not just viewing it. as defined by Chief Executive Officer Mark Zuckerberg.
Zuckerberg bets that the metaverse will become a place where people work, socialize, and play in a computer-generated environment.
Executives around the globe have many different opinions about the meaning of the metaverse and when it will be available. The metaverse is something some believe already exists. For example, Roblox has created worlds. Other people see it more as a futuristic, vague concept.
Answers to questions about the future of the metaverse were given by executives after this week’s earnings. It was everything. Many were open to exploring forward-thinking opportunities for stock market growth. It’s unclear whether or not they’ll actually materialize — or if the ideas even make sense.
We “learned” these lessons.
Roblox CEO David Baszucki:It’s often called “the metaverse” today. Baszucki refers to the metaverse as “human co-experience”. Baszucki defines it as a space where high-fidelity technology is combined with new ways of telling stories using borrowed technologies from mobile gaming.
Baszucki said that the new category of co-experience or metaverse is based on eight basic principles: identity and social.
Warner Music Group CEO Stephen Cooper: “We will see convergence in content distribution and provision within large-scale metaverses like Roblox, Fortnite and Roblox, I believe. Warner is surrounded by a vast network of users that have meaningful time and a global reach.
Vonage HoldingsRory Reads CEO Rory on Cloud Communications? : “It’s the next 5, 7, 10, years.”
Bilibili (Chinese video-sharing site) CEO Rui ChenMetaverse is not a product, but a concept. Actually, many elements that are associated with the metaverse were already in existence before this idea was born. Virtual reality is a social group, system or social system that creates a supportive environment. Many companies have products based on such concepts. Bilibili and Tencent are two examples.
It is why I feel that it would not be wise for someone to hear the idea of metaverse, and then decide to go into business with this company. Because these elements, such as the social system, self-reinforcing environment, and all other aspects, cannot be achieved within a matter of months, or even years.
Tencent President Chi Ping Lau: “On metaverse I believe this is actually kind of an exciting, but little vague concept.”
Dolby LaboratoriesKevin Yeaman, CEO“I believe the metaverse can take many forms but it ultimately is an audiovisual experience.”
Chinese game maker NetEaseMargaret Shi is the Head of Investor Relations: The metaverse has become a buzzword. However, it’s not something that I have personally experienced. NetEase is technologically prepared. When that time comes, we know how to acquire the necessary know-how and the appropriate skillsets. We’d be among the most competitive runners in metaverse space when it eventually happens, so I believe that we would.
CoinbaseBrian Armstrong is the co-founder of this company and its CEO.I think that the many millions of Americans who are using the asset class to do all sorts of things not only for financial services or unique payments, but also for art, governance, identity, and the Metaverse, is a great thing. This is why it’s exciting to see how many young, talented people from all across the U.S. have gotten into the field.
Chris Cocks is the CEO of Hasbro“The Wizards of the Coast”“Digital games are the first requirement to participate in the metaverse.” My understanding of the metaverse refers to entertainment which is digital digitizing. Entertainment is also the Game of Life.
Bumble (dating company) president Tariq M. Shaukat“On the metaverse, we’re actually using a Web3 lens to this particular issue, which means we are… It is possible to build more virtual experiences and I am sure that we will engage in it with our avatars. We think that blockchain and cryptocurrency will bring a new dimension to the experiences our communities enjoy in the short term. We are fundamentally more than an ecosystem. Instead, we are a group of people. It is also true of Badoo and Bumble, but especially when you think about Bumble BFF.
We think the possibilities to engage and think about our members as participants is just amazing. So we keep trying. While we have a number of exciting tests to share, this will only be the start. It is something that will continue to develop. “We want to ensure that we are laying the foundations for all the technological and engineering innovations in the metaverse, and the Web3 universe.”
Ryan Steelberg, Veritone (AI software) co-founder:
Qualcomm CEO Cristiano AmonSnapdragon is the best choice for anyone who wants to travel to the Metaverse. Qualcomm chips currently power Oculus headsets from Facebook.
VeritoneChad Steelberg is the CEO: I think that the metaverse by definition is much bigger than Facebook. It’s by definition a multiverse. This will be moving information and content into the digital realm and, then, clearly, interfacing with our physical selves in the digital realm.
Unity Marc Whitten is the senior vice-president“No matter what the term metaverse may mean, it will be created by millions of content creators. We are on a mission, to provide them with the high-performance, easy-to use tools they need to bring their visions into reality.
Roblox Chief Product Officer Manuel BronsteinRoblox: We want to connect over 1 billion people across the metaverse.
RobloxCraig Donato is Chief Business OfficerWe expect advertising agencies to be able to create metaverse experiences.
DisneyBob Chapek, CEO“Suffice It to Say: Our efforts so far are just a prologue for a time when the digital and physical worlds will connect even closer, which allows us to tell stories without any boundaries within our Disney universe.”
Match Group (dating companies) Sharmistha dubey CEO: “For example, there is a piano bar in which people are actually jamming out with each other while their digital selves gather around. It is possible to listen to conversations and join them. You can also tap into their digital avatars to view more information about the profiles. This gives you a wider range of signals that can be used to connect with people. Metaverse experiences come to life. This transforms the way people connect on dating and social discovery platforms.
John Riccitiello (CEO Unity) on Unity’s bid for the metaverse with its acquisition of Weta Digital.It will really assist us in extracting and helping to build the metaverse around our belief that the world would be a better place if it had more creators. We now have something to please the millions of artists around the globe. This makes it possible to offer something truly magical that’s, at the least, magic from an artist perspective. They are also our largest audience.
Questions from Laura Martin (analyst, Needham): “Okay, great. You guys mentioned NFTs quite a few times. So is that – could you size that for us and sort of more generally how do you feel about this, the role, the metaverse and going into the digital online world, and can you sort of think that NFTs are going to be – is meta going to be actually a bigger deal, like leaving to live, you guys really work in the live world, physical world, but how do you feel about the metaverse? What size do you believe NFTs might be in the new metaverse?
World Wrestling Entertainment Chief Revenue Officer Nick KhanWe believe that it’s strong now. It will evolve, becoming more robust and is here to stay.
Martin: “Okay. Thanks.”