Metaverse Fortnite: The Ceo of Fortnite Game Developer Epic Claims That Metaverse is a Multi-trillion Dollar Possibility
The CEO of Fortnite’s developer, Epic Games Inc., Tim Sweeney, maybe the second-biggest fan of the metaverse behind Mark Zuckerberg, who renamed his entire firm Meta Platforms Inc.
The founder of Epic should feel confident because his company Fortnite has quickly transformed from a successful multiplayer game into a social platform where famous singers stage virtual concerts.
It goes up against other sandbox games like Minecraft (owned by Microsoft) and Roblox (owned by Roblox Corporation) in its quest to realize the “metaverse” concept of a virtual environment that would replace web browsers and mobile apps as the primary means by which people interact with the internet.
The CEO made these remarks at a conference in Seoul on Tuesday: “Over the coming decades, the metaverse has the potential to become a multitrillion-dollar element of the world economy.”
In an interview that followed, he remarked, “The next three years are going to be essential for all of the metaverse-aspiring corporations like Epic, Roblox, Microsoft, and Facebook.” It’s a race to 1 billion users; whoever gets there first will be seen as the standard setter.
Sweeney’s ambitions for the metaverse and guaranteeing a level playing field for the entrepreneurs seeking to develop it are at least in part motivating his legal and verbal war with mobile titans Apple Inc. and Alphabet Inc’s Google over their locked-down app stores and payments.
The Ceo of Epic Criticises Apple and Google and Proposes a Single App Store.
The metaverse is a word synonymous with the World Wide Web. “No firm can own it,” Epic’s head declared.
The first part of Epic’s metaverse goal, according to the CEO, is to grow Fortnite’s user base from its current 60 million to a future 1 billion.
In addition, the firm is looking to profit off of its content production tools, such as the Unreal Engine for 3D graphics, “allowing all of the companies throughout the sector to have a real-time 3D presence.” Epic’s chief executive officer shares that optimism, so the company will face competition from Nvidia Corp.
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Sweeney hopes that even if Epic doesn’t construct the final metaverse, its software tools will serve as the foundation.
He gives the example of the automotive industry, saying that companies like Ford and General Motors can use Unreal to visualize their products during the design and manufacturing processes, and then later create digital advertisements. This past July, Fortnite introduced a Ferrari that players can use.
The company is attempting to “create one set of digital assets that can be deployed to cinema and television and in real-time games, spanning from high-end consoles down to low-end smartphones,” as Sweeney put it. The Epic team is working with VR and AR headset makers, even though he doubts that users will need them to enter the metaverse.
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As with South Korea, Epic plans to adopt a similar strategy in China, the second major growth prospect for the gaming industry. After a multi-year fight, Epic Games finally gave up on trying to get Fortnite approved in the country this month. However, the business will keep providing its tools and software to other developers.
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Frequently Asked Question
Is Fortnite Included in the Metaverse?
Epic Games, the developers of Fortnite, own one of the numerous video game-based metaverses that existed long before the phrase was popularised. Other games like Roblox and Minecraft also have their own metaverses.
Is Playing in the Metaverse Free?
The concept of “play to earn” is central to the vast majority of metaverse games. A game may have profit potential, but it doesn’t mean you won’t need to put any money into it initially. All NFT games can be categorized as either free or paid. Example: the once-paid CryptoKitties simulation game.
How Much Does the Metaverse Cost?
Over $80 billion will be spent by the corporation in the fiscal year 2022. However, the average price of a Metaverse social media network might be anywhere from $25,000 to $400,000, depending on the complexity and number of features required.
