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‘No Company Can Own’ the Metaverse, Says Epic Games CEO . 'Well Mark plans to make it Zuckerverse'

In brief Epic Games CEO Tim Sweeney said this week that “no company can own” the metaverse, a projected future vision of the internet. Sweeney sees a “multi-trillion-dollar” opportunity in the space, which Facebook and many crypto startups are also exploring.

The developing online metaverse has gotten a lot more attention lately on the back of Facebook’s rebranding to Meta, not to mention this year’s NFT market surge and rising interest in Ethereum-based metaverse games. Fortnite creator Epic Games similarly sees huge opportunity in the space, but its CEO isn’t aiming to singlehandedly rule the metaverse.

At this week’s Global Conference for Mobile Application Ecosystem Fairness in Seoul, South Korea, Epic Games co-founder and CEO Tim Sweeney spoke against closed software ecosystems in the wake of its legal battles with Apple and Google. In the same vein, he said that the metaverse is a broad concept, and should not be controlled by a single entity.

“The metaverse is a term like the internet,” said Sweeney, per a report from Bloomberg. “No company can own it.”

The metaverse refers to the potential future evolution of the internet, in which social interactions, games, and even work will increasingly take place via avatars in 3D environments. User-owned NFT assets, tokens used to represent ownership over digital items, are expected to play a large part in what’s expected to be a series of shared, interoperable, online environments.

Facebook has emerged as the largest potential player in the emerging space. At its annual conference last month, the company shared its vision for an online world in which users hang out, play games, and even work in such 3D spaces, as well as use NFTs to customize their spaces, collect digital merchandise, and more.

Along with the demonstration, Facebook rebranded its parent company to Meta. The company is investing heavily in the space, and plans to hire 10,000 people in Europe as part of the...

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Charles Hoskinson: You know what scares me? A central bank increasing the money supply by 50 percent within 18 months, telling me it has no/little impact on inflation, and when prices go up, Warren blaming "greedy corporations" It's simple. Do you want your money more valuable over time or less?

You know what scares me? A central bank increasing the money supply by 50 percent within 18 months, telling me it has no/little impact on inflation, and when prices go up, Warren blaming "greedy corpo...