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Metaverse Is a Multitrillion-Dollar Opportunity, Epic CEO Says

Epic Games Inc. Chief Executive Officer Tim Sweeney may be the most enthusiastic supporter of the metaverse after Mark Zuckerberg, who renamed his entire company Meta Platforms Inc.

The Epic founder has reason to be bullish, as his company’s Fortnite has rapidly evolved from a popular multiplayer game into an online space where people socialize and big-name musicians host virtual concerts. It competes with world-building games like Microsoft Corp.’s Minecraft and Roblox Corp.’s eponymous title in pursuing the metaverse vision of a virtual environment that would be the platform we use to interact with the internet and others, supplanting web browsers and mobile apps.
“Over the coming decades, the metaverse has the potential to become a multitrillion-dollar part of the world economy,” the CEO said at a conference in Seoul on Tuesday. “The next three years are going to be critical for all of the metaverse-aspiring companies like Epic, Roblox, Microsoft, Facebook,” he said in an interview after. “It’s kind of a race to get to a billion users, whoever brings on a billion users first, would be the presumed leader in setting the standards.”

For Sweeney, the legal and rhetorical battle with mobile giants Apple Inc. and Alphabet Inc.’s Google over their locked-down app stores and payments is at least in part motivated by his aspirations for the metaverse and ensuring there’s a fair playing field for the companies competing to create it.

https://www.bloomberg.com/news/articles/2021-11-17/metaverse-is-a-multitrillion-dollar-opportunity-epic-ceo-says