Tim Sweeney Confident that the Metaverse is a Reality

Epic Games has unveiled its vision for the metaverse at the State of Unreal event, revealing details about the economy surrounding its Unreal Editor for Fortnite, a new unified marketplace called Fab, and innovative Metahumans animation tools. In an interview with GamesIndustry.biz at GDC 2023, CEO Tim Sweeney elaborated on his vision for an open ecosystem in the gaming industry. Sweeney emphasized that the metaverse must be open and not a walled garden, citing the past 15 years of closed systems dominated by companies like Apple and Facebook. He believes the gaming industry is ideal for an open system, with multiple strong console companies and publishers, each with their own ecosystem. Sweeney stated that the metaverse is more appealing to players when their real-world friends are involved, and that interconnection is key to achieving this. Epic aims to compete in various areas, including engine space with Unreal Engine, server hosting, and asset marketplaces, with the goal of becoming a leading service provider. Sweeney also expressed frustration with Apple's restrictive practices, particularly on the iOS platform, where Epic is unable to create a competing store. He believes that building the metaverse in an open environment allows companies to thrive on their merits. When asked about the timing of Epic's metaverse vision, Sweeney pointed to a clear trend towards the metaverse, citing the growth of Fortnite, cross-platform play, and the success of Roblox. He noted that over 600 million users engage with the metaverse every month, with exponential growth expected to reach several billion by the end of the decade. Sweeney also warned that Apple poses a significant roadblock to Epic's metaverse vision, as the company may attempt to crush or monopolize the metaverse. He emphasized the need for robust antitrust laws to prevent this and ensure a level playing field.