Developer of GTA: NFT and metaverse will destroy many companies

The head of the Take-Two video game development holding company (which includes the prominent Rockstar Games) is confident that the popularity of metaverse, NFT, and blockchain may have negative consequences for many companies. At the same time, he expressed surprise at the hype around the latest technologies.

Strauss Zelnick (CEO of Take-Two) said: «What is the fundamental difference between metaverse and interactive and live worlds, such as GTA Online or Red Dead Online? In general, nothing, but for some reason, companies invest money in meta-projects and NFTs simply because of the novelty of these concepts, without even understanding the meaning of these words.»

Strauss added that one should not expect the metaverse trend to disappear or collapse, and one should stop trying to «join the crowd» without at least a partial understanding of the matter. He compares what is happening now to the Internet boom in the late 90s, when companies such as Google and Amazon successfully emerged, while many other companies simply collapsed, causing their investors to go bankrupt (the so-called dotcom bubble). By the way, this is the position taken by many IT market experts.

It can be said that Zelnick’s «prophecy» is already happening. For example, investors in the LUNA token are depressed, and more than 22 people have already committed suicide — all because of the recent coin crash.