Robby Yung, the CEO of Animoca Brands, a global investment venture, attends the Web Summit in Lisbon, Portugal where he said that Zuckerberg’s vision of VR for the metaverse is a big distraction.
Meta’s foray into virtual reality has cost the company to lose billions of dollars in stock loss. The lack of funds and inability to design the “ideal” VR metaverse crumbled even before the launch.
He also shared that Metaverse cannot exist without Web3 because there should be a “transaction layer” for “interoperability between content and you can bring it from place to place.”
The VC has constantly pushed toward interoperability in metaverse, enabling users to move content like NFTs from one platform to another, the same way content is moved from one website to another.
After all, the metaverse is said to be the internet of the future where users can move from one digital space to another without any interruptions.
Animoca Brands aims to achieve this through different investment projects, currently in development or already launched. These also include blockchain games and NFT marketplaces.