Ex-Google CEO calls buying land in virtual metaverse nonsense

Former Google CEO Eric Schmidt believes that none of the players in the metaverse market has any advantages, including Meta (ex-Facebook), which believes in metaverse so much that it has rebranded itself.

«Today, no company has a strategic understanding of what a metaverse is, there is no standard,» Schmidt said. He believes that the biggest nonsense is the purchase of virtual lands in metaverse, because the only thing that gives them at least some value is media publications that create hype around such projects. According to Schmidt, the future of metaverse will start with assets related to game worlds and the exchange of game virtual assets.

Representatives of Meta, Microsoft, Unity, Sony, and more than 30 other large companies that announced in late June that they had united in the Metaverse Standards Forum to develop a global strategy for the development of virtual reality would definitely disagree with Schmidt. As we reported earlier, one of the goals of the association is to ensure that the development of metaversions is managed jointly by the companies and there is no «dominant party».