Epic Games Intensifies Its Metaverse Vision

At the Game Developers Conference, Epic Games unveiled numerous features, tools, and technologies that align with its metaverse vision. Epic Games CEO Tim Sweeney confirmed that the metaverse is happening, and Epic has a significant role to play in it. The company's executives stated that they are not yet ready to discuss their kids-friendly metaverse project with Lego, but they have achieved several milestones on other fronts. The introduction of the Unreal Editor for Fortnite, user-generated content monetization plans, a unified marketplace, and more, marks a substantial step towards realizing the metaverse. Epic's efforts in the metaverse space come at a time when the tech industry's attention has shifted to AI. According to Saxs Persson, Epic is 'doubling down' on its metaverse idea and the tools and economy surrounding it. Persson emphasized that the goal is to recognize the ecosystem they are building and ensure they are not hindering its development. Epic's Creator Economy 2.0 will share 40% of Fortnite's net revenues with publishers of eligible islands, including independent creators. The company's philosophy is to reward creators based on the value their islands bring, considering factors such as popularity, engagement, retention, and new players. Epic wants to incentivize good behavior and encourage creators to produce high-quality content. The company is taking a different approach to building its metaverse economy, with a focus on fairness and transparency. Creators will be paid in real money, without transaction fees or exchange rates, to invest in their next projects and raise the quality of their creations. Epic's vision for the metaverse is to create an open and interconnected system, where users can share experiences with friends across different platforms. The company's business strategy is to compete in various areas, including engine space, server hosting, and asset marketplaces, to become the leading service provider. The introduction of Verse, a new programming language, is designed to be accessible and powerful, allowing creators to build complex experiences without extensive programming knowledge. Epic's unified 3D marketplace, Fab, will include assets from various marketplaces, targeting use for multiple engines and offering content creators an 88% cut on their sales. The company's approach to acquisitions is focused on solving problems and building a content ecosystem, rather than creating a conglomerate. As Epic lays out the foundations for its metaverse, the main obstacle it faces is Apple, which Epic believes wants to dominate the metaverse and extract all the profit from it. Epic is fighting for robust antitrust enforcement to prevent Apple from using its market power to crush the metaverse. The company believes that connecting services and allowing cross-platform play will benefit everyone, as seen in the growth of PlayStation and Fortnite cross-platform play. Epic's metaverse vision is focused on creating a real-world experience with real-world friends, and the company is committed to building a fair and open ecosystem.