Take-Two boss warns it ‘may not end well’ for companies betting on blockchain-based metaverses
Take-Two Interactive CEO Strauss Zelnick has expressed his scepticism of the term ‘metaverse’, warning that it may end badly for companies trying to capitalise on the buzzword.
While there’s no universally accepted definition, the ‘metaverse’ is broadly defined as a network of 3D virtual spaces where users can socialise, play and work, and some envision it as a successor to the mobile internet.
Companies such as Sony, Epic, Lego, Meta, Krafton, Bandai Namco and Microsoft are all planning their own takes on the concept.
When asked about the concept in a new video interview with GamesIndustry.biz, Take-Two’s Zelnick said he was sceptical of anyone “investing behind buzzwords” and argued that his company already had its own metaverses in games such as GTA Online.
“I’m always sceptical about buzzwords because they mean different things to different people, and people investing behind buzzwords probably don’t end up having great results,” Zelnick said.
“I’m not sceptical at all about huge, interactive, dynamic, entertaining worlds because our company is responsible for housing, minimally, three of them,” he replied. “The biggest on Earth, Grand Theft Auto Online, and Red Dead Redemption Online and then NBA 2K online, and others to come.
“So I’m a dyed-in-the-wool believer that people will go to digital worlds to be entertained, and if you offer a super entertaining experience I think people will flock to it.
“I think where my scepticism lies is every company suddenly believing that by saying the word ‘metaverse’ adjacent to their company’s business strategy, that means that somehow they’ll be transformed and nirvana is around the corner, and naturally that’s not the case.”
Zelnick pointed out that he’s particularly suspicious of
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