Tim Sweeney, the billionaire CEO of Epic Games, has reaffirmed his faith in the metaverse, despite recent claims that it’s “dead.” The creator of the popular video game engine Unreal Engine and the online game Fortnite took to Twitter on May 9 to ridicule an article published by Business Insider titled “RIP Metaverse, we hardly knew ye.”
In his tweet, Sweeney alluded to the significant number of active users in various virtual worlds, suggesting that the metaverse is alive and well.
Sweeney has a strong belief in the potential of the metaverse and is investing a substantial sum of money into its development. Epic Games secured a $2 billion investment from Sony and KIRKBI, the holding company of LEGO Group, in April last year to advance the company’s vision of creating the metaverse.
Sebastien Borget, the co-founder of The Sandbox, agreed with Sweeney and encouraged everyone to come out and play together in the “dead” metaverse.
An article published on Monday by Business Insider declared the metaverse dead after its decline and abandonment by the business world just three years after it was born. The virtual world concept was not new, but the actual technology failed to deliver on its grand promises, the article stated. While every company had a metaverse product on offer, it was not obvious what it was or why they should have it. According to the piece, the metaverse suffered from an acute identity crisis and lacked a coherent vision for the product, ultimately leading to its decline.
The article cited Decentraland as an example of the metaverse that didn’t meet high expectations. It also suggested that investors have shifted their focus to the next trend in technology: generative AI.
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