Take-Two CEO skeptical of Metaverses, worthless digital land

Photo of Take-Two CEO Strauss Zelnick smiling in a suit.

photo: Jonathan Lebson (Getty Images)

The metaverse has quickly become a hot topic of speculation among tech companies and wealthy CEOs as they scramble to stay on track while people look for ways to escape today’s hellish digital landscape.But the Metaverse is (probably) a huge bust, Strauss Zernike, CEO Grand Theft Auto and Borderlands Publisher Take-Two predicts that companies investing in blockchain-powered virtual worlds filled with digital land that have no value may not exist for long.

as found VGCexist be interviewed Gamesindustry.biz yesterdaythe CEO talked about his More old and new companiesjump to attach yourself to the virtual world, Implying that investment buzzwords may not be a good ideaexplaining that “people who invest in buzzwords may not end up having great results.”

He’s quick to point out, though, that he doesn’t doubt the idea of ​​a metaverse-like product — which he defines as “big, interactive, dynamic, and fun” — pointing to Take-Two’s popular games, such as GTA Online and NBA 2K As an example of a successful metaverse world.

“So I’m a complete believer that people go to the digital world for entertainment,” Zelnick explained. “If you offer a super fun experience, I think people will flock to it.”

However, Zelnick is skeptical of the sudden influx of old and new companies trying to build Metaverse. We’ve seen what happens with Facebook and other companies jumping into the business of creating large digital worlds. The end result is often lifeless, boring, and exists only for the sake of being, rarely giving players a reason to stay or revisit. Zelnick noted that making big, cool, popular video games and online worlds is “very difficult,” costing a lot of money, and taking years to get there.

“So when a company that didn’t exist two years ago launches a white paper, a blockchain-based metaverse and sells hundreds of millions of dollars in digital real estate in two days, of course, I’m a little skeptical,” Zelnick admits.

In his view, it doesn’t really make sense why these new digital worlds are worth so much money when most virtual worlds don’t provide entertainment.

“I have a lot of respect for how difficult it is to please people internally [digital worlds], and without giving people a reason to visit, I don’t know why real estate has any value,” Zelnick said. “And that seems to get lost in the shuffle. “

read more: The Metaverse Has Come For The Cow And It’s Very Sad

If you say this argument certainly helps to better position his own company and his established and very popular online games like GTA Online As a future leader in the digital economy, I would say you have a very valid point. But his point also makes sense. None of these new, enterprise-created metaverses An interesting place full of blockchain technology and NFTs.So far, people haven’t flocked to hang out in these places – well, except for those who spend thousands of dollars on digital products and the world Who desperately needs you and your friends to buy all this crap.

Of course, Zelnick does hope his As the demand for an entertaining digital world continues to grow, the company will be one of the most successful companies moving forward. But he predicts that many companies that invest in all of this won’t have a happy future, noting that “just calling something ‘metaverse'” doesn’t guarantee that what you’re doing will be valuable or desirable.

“But of course, in the end, all speculation will end. The question is not if, the question is when,” Zelnick said. “When a lot of money is put into a word, and something happens in it, you can probably guess where a lot of people end up, and I think the answer is ‘not good.'”


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