Executives Get Poetic on Metaverse in Q3 Earnings Calls

A new video from Inspired by Iceland pushes the experience of life through the “metaverse”, as described by Mark Zuckerberg during the rebranding from Facebook to Meta on Thursday, October 28, 2021.

Michael Nagle | Bloomberg | Getty Images

Online dating apps, a crypto exchange and a pro wrestling brand are among many companies that have attempted to incorporate their disparate and seemingly unrelated businesses into the metaverse discussion this quarter.

The concept was at the heart of analysts’ concerns after Facebook changed its company name to Meta last month to “an Internet personified where you are in the experience, not just by looking at it.” as defined by the general manager Mark Zuckerberg.

Zuckerberg is betting that the Metaverse, a computer-generated world, is where people go to work, play and socialize using the company’s virtual reality headsets.

But leaders around the world have many divergent opinions on what the Metaverse is and when to expect it. Some see the metaverse as something that already exists, like the worlds created by Roblox. Others see it as a vague futuristic concept.

When asked about their plans for the Metaverse after profits this week, the executive’s responses were everything. And nothing. Most have not shied away from thinking about cutting edge business opportunities that could increase the value of stocks. It is not known whether or not they will materialize – or if the ideas even make sense.

“All I can do is sit back and stare at him in amazement,” Neal Stephenson, who popularized the term in his 1992 book. book “Snow Crash,” CNBC said in a recent interview.

Here is what we “learned”.

It is the human co-experience

it’s already there

It’s not there yet

It’s too late to enter

It’s unclear

Tencent President Chi Ping Lau: “On the metaverse, I think it’s actually a very exciting concept, but a little vague.”

Dolby Laboratories CEO Kevin Yeaman: “I think the metaverse, I guess, can take many forms, but ultimately it’s an audiovisual experience.”

Either way, NetEase will be a “fast runner”

It has something to do with crypto

It’s the digitalized game of life

This is … something where Bumble will be

buzz (dating company) president Tariq M. Shaukat: “On the metaverse, we’re really taking the Web3 goal on this particular point, which means we’re … I’m sure someone is going to build a more virtual experience and we’ll be happy to engage and d ‘being there when they do it with avatars etc. But what we really think is really interesting in the short term is the application of blockchain and crypto in general to the experience of our communities. we’re not just an ecosystem, but we’re a community of people. That’s true on Bumble and Badoo, but it’s especially true when we think about kind of reinventing Bumble BFF. “

“And the opportunities to really engage our members and really see them as members who participate in this community are really, we think, really super exciting. And so we keep experimenting. We have a few tests that we’re very excited about. of what we’re going to roll out in the coming months on this, but we think that’s the first step. It’s something that’s going to evolve. We want to make sure that we put the technique and the engineering in place. foundation of all that emerges in the metaverse and in the world of Web3.

He will have news and sports

It will run on Qualcomm chips

It’s gonna be a lot bigger than Facebook (Meta)

Veritone CEO Chad Steelberg: “I think the metaverse, by definition, is a lot bigger than the new company Meta aka Facebook. By definition, it’s a multiverse, that’s going to move content and information both into the digital realm, and then, obviously, the digital realm interfacing with us in our physical selves. “

Unity First Vice-President Marc Whitten: “Whatever the word metaverse means, it will be built by millions of content creators, and we’re on a mission to give them the easy-to-use, powerful tools that will bring their visions to life.”

Roblox Product manager Manuel Bronstein: “At Roblox, we want to connect over a billion people in the metaverse.”

there will be ads

Disney will have one

This will involve people playing the piano

It will mainly be made by artists

Unity CEO John Riccitiello on Unity’s game for the metaverse through its acquisition of Weta Digital: “It’s really going to help us extract and build the metaverse around the idea that the world is a better place with more creators. And now the millions of creators around the world who think of themselves as artists are welcome to our platform and we have something to keep them going. So that really puts something under our platform that is, at least from an artist’s point of view, really magical and they are the biggest exploitable audience that we have in our universe. “

it is robust

Question from Laura Martin, Analyst, Needham: “Okay, great. And then my other is that you mentioned NFT a few times. So that’s it – could you rate that for us and more generally, how do you feel about that, the role? , the metaverse and entering the digital online world, and can you kind of think NFTs is going to be – is the meta actually going to be a bigger deal, like going live, you really work in the real world, the physical world, but how do you feel about the metaverse? And in that context, how big do you think the NFTs could be as part of the new metaverse? “

Global wrestling entertainment Director of Revenue Nick Khan: “We think he’s tough now. We think he’s going to continue to evolve and maybe become even more robust, and we think he’s here to stay.”

Martin: “Ok thank you.”

WATCH: A metaverse similar to the rise of the internet, according to Matthew Ball