Eric Schmidt, former CEO of Google remains indifferent on the metaverse

Former Google CEO Eric Schmidt has expressed his opinion on the metaverse. It seems that this billionaire is indifferent about this collection of virtual worlds.

During the event of Aspen Ideas Festival, Eric Schmidt, former CEO of Google expressed his indifference to the metaverse. Asked how the metaverse might affect global relations, he remained confused.

“A company changed its name in anticipation of the metaverse. But there is not yet agreed on the definition of the metaverse », advanced Eric Schmidt. He was then referring to Facebook’s renaming to Meta in October 2021.

Eric Schmidt said he doesn’t know how the future collection of digital worlds will actually affect ordinary people’s daily lives. And this is a commonly shared perception. Indeed, nearly two-thirds of respondents to a recent Axios survey said they weren’t even sure what the metaverse was.

58% of respondents said they were not neither scared nor excited about the concept. That hasn’t stopped global players like Disney, JP Morgan, Coca-Cola and Gucci from jumping on the metaverse bandwagon.

Ex-Google CEO Not Interested In Buying Virtual Land In The Metaverse

Microsoft announced its intention to acquire Activision Blizzard for $68.7 billion in January. In March, global investment bank Citi estimated that the metaverse could be worth between 8 trillion and 13 trillion dollars by 2030. In anticipation, last year companies and investors spent more than 500 million dollars in real estate sales in the metaverse. That number could potentially double this year.

Eric Schmidt, meanwhile, isn’t interested in the concept of buying virtual land for unknown future use. In fact, he suspects that the first iterations of the metaverse will revolve around games and digital currency.

The billionaire did not specify what exactly that would look like. But he previously explained that it was not certain that Meta was the company that would launch it. “I’m in no rush to buy large tracts of private real estate in the metaverse myself,” he said. “It’s not a concern that I have every day,” he said.

Leave a Comment