The CEO of Xbox recently compared the high-flying Metaverse to a “poorly built video game” and believes the platform is not worth an inch of his time. Spencer disclosed this at a conference he attended on Wednesday and admitted the Metaverse is still a young platform and needs some time to grow into something more mature and worthwhile. He claims to compare the Metaverse to what we already have on the ground today; the Metaverse has more to do if it wants to compete.
Meta, formally known as Facebook, released a report on its earnings for the Q3 on Wednesday, which wasn’t good news for the entire company. Meta CEO Mark Zukerberg reiterated his commitment to the metaverse project and said the company’s financial output plunge wouldn’t deter him. Despite investing billions of dollars into Meta’s project, the Meta share price dropped by 70% this year. Yet, Zukerberg has not been discouraged by the financial woes but has been committed to bringing the project to its supposed destination.
Spencer’s review of the metaverse project is undoubtedly a dig for the social tech giant effort to grow the Meta into what it’s proposed to be. Despite this criticism, Zukerberg believes Metaverse is today’s internet’s future and will flourish at the right time. A report from the Wall Street Journal posted on Wednesday gave details of how Microsoft, the owner of Xbox, is struggling to make it into the Metaverse.
The HoloLens augmented reality headset is yet to find its mark in the tech market, causing a significant setback for the company; after losing over 100 staff in the space of just two years, the breakthrough still seems far from coming to reality. According to reports for the WSJ, the “Microsoft Corporation is committed to all aspects of mixed reality and the Metaverse.” Meanwhile, Spencer’s thoughts on the future of gaming do not involve the Metaverse yet.
Going back to what Spencer said in August to Bloomberg about what Spencer feels the gaming industry’s future will look like, he believes cross-play is the future and games that are not cross-played are “something we are going to see less and less of .”He feels the future of gaming will be less attractive if it is made exclusive for one user and might not break the market the way it should. Studies have shown that games played by multiple users across platforms get more attention and are well-patronized than single-hand games. A good example is the ‘Call of Duty, among others.
Spencer’s review on the Metaverse was indeed short one but was enough to tell that he does not fancy the Metaverse and is not a believer in a project that is currently spinning the minds of millions of tech lovers around the world. Meta is betting everything on the progress of the metaverse project and is hoping to get their returns within the shortest period.