Take-Two Interactive CEO Strauss Zelnick on Thursday forged doubt about Meta’s metaverse aspirations, telling CNBC he believes the Facebook-parent firm’s imaginative and prescient for a digitally linked universe could also be unpopular.

In an interview on “Squawk Box,” Zelnick didn’t outright dismiss the concept of the metaverse, a time period used to explain an internet digital world the place folks can work together utilizing avatars in actual time on a number of gadgets. But based mostly on that definition, Zelnick mentioned his online game firm is already dominating the so-called metaverse.

“I might argue we’re in all probability the largest metaverse firm on Earth for those who look by way of income and income as a result of we’re in [‘Grand Theft Auto Online’], which actually I believe defines the metaverse as we speak, ‘Red Dead Online’ and ‘NBA 2K’s’ on-line model,” Zenick mentioned, referring to 3 online game titles revealed by his firm.

“As a digital location that we are able to go to be entertained, to attach with different folks to speak, to play, to drive vehicles, to interact in prison exercise, to be the police that stops that prison exercise and you’ve got enjoyable alongside the way in which, we’re already in that enterprise,” Zelnick contended.

Meta CEO Mark Zuckerberg’s imaginative and prescient of the metaverse is a digital world the place folks can reside, work and play — all inside digital actuality. Zuckerberg introduced final week that Facebook was altering its identify to Meta, a transfer he mentioned was designed to replicate the corporate’s rising ambitions past social media. In addition to proudly owning Instagram and messaging service WhatsApp, Meta is the guardian firm of digital actuality headset maker Oculus.

Zuckerberg has mentioned he hopes the metaverse reaches a billion folks throughout the subsequent decade. He’s additionally steered the metaverse could “host tons of of billions of {dollars} of digital commerce, and assist jobs for tens of millions of creators and builders.”

Take-Two’s Zelnick mentioned he would not suppose Meta’s imaginative and prescient of the metaverse is what shoppers need, contending they need to deal with leisure and enjoyable reasonably than a digital extension of actual life.

“I’m skeptical that we will get up within the morning and deliberately sit at residence, strap on our headsets and conduct all of our day by day actions that means,” Zelnick mentioned. “We had to try this throughout the pandemic, and we do not actually prefer it a lot.”

Zelnick’s feedback got here after Take-Two posted better-than-expected earnings for the earlier quarter. The firm additionally raised its adjusted 2021 gross sales outlook, citing heavy demand for its three largest on-line titles. Take-Two shares jumped 4.8% on Thursday.


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