Mark Zuckerberg, CEO of Meta, formerly Facebook, has shared how the metaverse will be a major part of his business and generate hundreds of billions of dollars in revenue. “Our playbook over time has been to build services, try to serve as many people as possible,” Zuckerberg said.
Mark Zuckerberg on Metaverse
Mark Zuckerberg, CEO of Meta Platforms, formerly Facebook, spoke about the metaverse in an interview Wednesday with Jim Cramer, host of CNBC’s Mad Money.
The Facebook co-founder has made it clear that he expects the metaverse to be huge and become a major part of his company’s business over the next decade. Commenting on the Meta metaverse’s efforts, Zuckerberg said:
Over time, our playbook has been to build services, try to serve as many people as possible — you know, get our services to a billion, two billion, three billion people, and then basically scale the monetization after that.
“We hope, basically, to reach about a billion people in the metaverse doing hundreds of dollars of trade each,” he continued, adding that people could “purchase digital goods and digital content, [or] different things to express themselves” in the metaverse.
Some examples of what people can buy are “clothes for their avatar, various digital goods for their virtual home, or things to decorate their virtual conference room,” Zuckerberg said. He added that people could also purchase “the facilities to be more productive in virtual and augmented reality and across the metaverse in general.”
However, he admitted that there is still a long way to go, saying:
I still think it will take some time for it to reach the scale of several hundred million or even billions of people in the metaverse, just because things take a while to get there.
“So this is the North Star. I think we’ll get there. But, you know, the other services we run are already on a somewhat larger scale today,” he emphasized.
Zuckerberg envisioned experiences in the metaverse to be more inclusive than text, images or videos, noting that people can even make eye contact when meeting in the metaverse. The Facebook co-founder added that the technology “adds essentially to making it offer that realistic sense of being.”
“We’re at this point, you know, a company that can make some big long-term research investments, and that’s a huge focus,” said the Meta CEO.
Last week, Meta, Microsoft and 31 other companies created a file Metaverse Standards Set. In March, dead Filing eight trademark applications for her motto and Meta Pay Covering metaverse and crypto services.
Many large companies have estimated the size of metaverses. McKinsey & Company He said last week that the metaverse could generate $5 trillion by 2030. In March, City Expect the metaverse to be a $13 trillion opportunity with five billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley Both see the metaverse as an $8 trillion opportunity.
What do you think of Metaverse comments to Mark Zuckerberg? Let us know in the comments section below.
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