Sony Announces Metaverse Push in Latest Annual Corporate Strategy Meeting

Sony Announces Metaverse Push in Latest Annual Corporate Strategy Meeting

Sony, the global electronics giant, has announced it will take a more focused approach when it comes to metaverse experiences as part of its entertainment strategy. The company that owns the Playstation brand revealed that prior investments in Epic, makers of the Fortnite game, and Bungie, another gaming studio, are part of this new push. Sony to Take Metaverse Seriously

Gaming and entertainment brands are now trying to integrate metaverse experiences to entice more users to enter their ecosystems. Sony, one of the most influential companies when it comes to entertainment and gaming, has announced its interest in including more metaverse-inspired experiences to attract customers.

At an annual strategy meeting held this week, Sony Chief Executive Kenichiro Yoshida stated:

The metaverse is at the same time a social space and live network space where games, music, movies and anime intersect.

Sony’s prior investments in other companies include Epic Games, the makers of popular online franchise Fortnite, and Bungee, creators of the Destiny series, and are part of this new focus. According to numbers presented by the company, more than 50% of the revenue in the last fiscal year came from Sony’s entertainment division, which encompasses gaming, movies, and music-related services. Playstation vs. Other Metaverse Players

Sony intends to use its Playstation brands to secure a place among the leaders in the metaverse industry. The Sony Playstation has one of the biggest install userbases in the world, so it might serve as a tool for this new metaverse push. In this sense, the company stated it “intends to leverage the unique strengths provided by its diverse businesses and expertise in game technology… creating new entertainment experiences in the area of the metaverse.”

However, the company is already playing catch-up with others in the field like Meta, which is producing hardware to provide metaverse immersion experiences to its customers. Meta owns the Oculus brand of VR headsets and provides its flagship metaverse app, called Horizon Worlds, exclusively to owners of these products.

Microsoft is another company positioning itself to be a metaverse player, acquiring Activision for almost $69 billion dollars as an approach to the metaverse, and launching Mesh, a corporate metaverse for its Teams meeting suite.

Sony has already presented its VR2 line of headsets to work in tandem with the PS5 line of consoles. The headset was rumored to be set for release this year, but it might be delayed until 2023 due to supply chain issues. Tags in this story bungie, Epic Games, Meta, Metaverse, Microsoft, occulus, Oculus, PlayStation, sony, Strategy&

What do you think about Sony’s metaverse push? Tell us in the comments section below. Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. ETH Co-Founder Vitalik Buterin Says The Merge Could Happen in August, There"s Also "Risk of Delay" NEWS | 11 hours ago Crypto"s Barren Wasteland: A Look at What"s Left of Terra"s Defi and Token Ruins NEWS | 16 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSingapore High Court Injunction Blocks Sale or Transfer of BAYC #2162 NFT Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design