Fun

Former Google CEO Eric Schmidt Is Skeptical About the Metaverse Concept

News Feed - 2022-07-04 05:07:26

Former Google CEO Eric Schmidt Is Skeptical About the Metaverse Concept


Eric Schmidt, who was CEO of Google, has declared that there is confusion about the concept of the metaverse and what it means for people. Schmidt stated that, even with a company like the former Facebook pivoting its operations to occupy the metaverse market, there is still not a clear definition of the concept and how it will affect people’s lives. Metaverse Still Not Defined, According to Google’s Former CEO Eric Schmidt


While there has been a considerable number of companies and firms that are already putting funds into and betting on the growth of the concept of the metaverse, not everyone is so convinced about the subject. Eric Schmidt, an entrepreneur that was formerly CEO of tech giant Google from 2001 to 2011, is in this latter group. Schmidt has expressed a degree of skepticism when it comes to the importance and adoption that this new tech may take on in the future.


This week, at an event in Colorado, Schmidt expressed his thoughts about the metaverse. He declared:


There’s not an agreement on what the metaverse is, even though one company has changed its name in anticipation of defining it.


Schmidt was ostensibly referencing the step that Meta, formerly known as Facebook, took while pivoting to include metaverse tech as one of the pillars of its operation. Last year, the entrepreneur also took another dig at Facebook, stating that he didn’t think Meta would be the company to shape the metaverse, even if the form it will take is yet undetermined. Metaverse Land and Investments


However, companies and even countries are already very invested in the metaverse, a technology that is currently associated with VR and AR (augmented reality) technologies, and apps that use them. One of the first countries that has considered the metaverse as a key tech for the future is South Korea, which announced in May it would allocate $177 million directly to metaverse platforms, with the idea of kickstarting national companies with an interest in the technology.


Real estate in the metaverse has also been considered a controversial subject by Schmidt. On the issue, he stated:


I’m not worried about buying large swaths of private real estate in the metaverse myself. It’s not a concern I have every day.


However, according to Metametric Solutions, a metaverse analytics company, sales of real estate properties in the metaverse are expected to reach $1 billion this year. Tags in this story AR, concept, Eric Schmidt, Google, Meta, Metaverse, Real estate, South Korea, VR


What do you think of the opinion of Former Google CEO Eric Schmidt on the metaverse? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Kuwait-Based Islamic Bank Enters the Metaverse METAVERSE | 22 hours ago E-commerce Giant Ebay Files Trademark Applications Covering Wide Range of Metaverse, NFT Services METAVERSE | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, Frederic Legrand - COMEO, Shutterstock.com Previous articleBank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

Mad Money’s Jim Cramer Says Tesla, Paypal, Mastercard Are Pushing Bitcoin More Into Mainstream
Mad Money’s Jim Cramer Says Tesla, Paypal, Mastercard Are Pushing Bitcoin More Into Mainstream Mad Money host Jim Cramer has applauded Elon Musk and Tesla for
Ukrainian Soccer Club Shakhtar to Raise Humanitarian Funds Through NFT Sale
Ukrainian Soccer Club Shakhtar to Raise Humanitarian Funds Through NFT Sale Shakhtar Donetsk, a leading soccer team in Ukraine, will sell a collection of non-fungible tokens (NFTs)
Nigerian central bank hires Gluwa to advance eNaira through credit profiles
Derek Andersen3 hours agoNigerian central bank hires Gluwa to advance eNaira through credit profilesThe pioneering African CBDC has few users, but creating credit histories for them will promote financial inclusion.3400
Looming Legal Issues and Transparency Questions Fail to Dent Tether’s Momentum
Looming Legal Issues and Transparency Questions Fail to Dent Tether’s Momentum Tether has never been more popular. A quick look at Coinmarketcap data underscor
Animoca, Standard Chartered team up in HKMA stablecoin sandbox
Derek Andersen3 hours agoAnimoca, Standard Chartered team up in HKMA stablecoin sandboxThe Hong Kong Monetary Authority has selected three parties for assessment in its stablecoin issuers sandbox.1028 Total views2 Total
Mt. Gox repayment shakes crypto market, causing volatility
Shiraz Jagati10 hours agoMt. Gox repayment shakes crypto market, causing volatilityBitcoin faces immense volatility as Mt. Gox repayments flood the market.3257 Total views2 Total sharesListen to article 0:00Follow upOwn
Bitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highs
Big Smokey3 hours agoBitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highsBitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC pr
Singapore amends Payment Services Act to cover token custody and transfers
Ezra Reguerra1 hour agoSingapore amends Payment Services Act to cover token custody and transfersThe amendments will be implemented in several stages starting on April 4, and transitional arrangements will be provided fo
Biggest Movers: DOGE Rebounds on Thursday, LTC Nears 1-Week High
Biggest Movers: DOGE Rebounds on Thursday, LTC Nears 1-Week High Dogecoin rebounded from Wednesday’s decline, as the meme coin moved away from a key support level. Prices ha
Securities Numbering Body Launches Task Force to Standardize Digital Assets
The Association of National Numbering Agencies (ANNA) has launched a task force to address digital asset labelings across financial markets. Announced Wednesday, the new task force
Stablecoin, retail CBDC sandboxes are on South African payments roadmap
Derek Andersen5 hours agoStablecoin, retail CBDC sandboxes are on South African payments roadmapThe South African Reserve Bank has declared goals for 2025 that it needs to pick up speed on.690 Total views11 Total sharesN
Arijit Sarkar13 hours agoNew Binance CEO Richard Teng pitches ‘very strong’ foundation to skepticsTeng’s tenure will focus on three aspects of the business as CEO: reinstating investor confidence, collaborating wit