Could facebook’s metaverse flop before it even launches?

“What Facebook is doing with meta…is a ‘fake metaverse,’ unless they actually have a real description as to how we can truly own it,” said Yat Siu, chairman and co-founder of Animoca Brands, an investor in and builder of metaverse platforms, speaking on a panel at the Reuters Next conference.

The metaverse refers to an array of shared spaces accessed via the internet. Some use augmented reality, via smart glasses, though current platforms often look more like the inside of a video game than real life.

Meta clearly wants to position itself as a gatekeeper to the virtual world, piggybacking on the popularity of its largely subsidised headsets to become a middleman, taking a cut from everything happening in it.

Zuckerberg thinks that beyond gaming, metaverse is going to become a world for virtual social gatherings, where we will be meeting with our friends, colleagues, bosses and have more immersive, personal interactions with them than through a flat screen of a phone or laptop.

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