‘metaverse is obviously just a gimmick’

In a time when everyone, from investors to CEOs, is talking about the metaverse, Evernote co-founder Phil Libin says the whole idea is obviously just a gimmick.

Highlights from Libin’s interview on CNBC’s ‘TechCheck’

Libin agrees that the metaverse is gaining a lot of attention at this point in time but doesn’t expect it to last more than a year. This afternoon on CNBC’s “TechCheck”, he said:

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

There’s so many real problems in the world and opportunity to actually solve them. So, to see so much hype about this weird dystopian sci-fi vision that no one actually wants is just lame. My prediction is that a year from now, it’ll be rare to see the word metaverse be used unironically.

Libin’s remarks come only days after the world’s largest retail chain, Walmart Inc, said it will launch its own cryptocurrency and a collection of non-fungible tokens (NFTs) to position itself as a beneficiary of the metaverse.

Libin is not onboard with Meta’s definition of the word

According to Libin, he doesn’t have a problem with “metaverse” as long as it means, broadly speaking, the internet. But the definition that Meta Platforms is proposing, he added, is quite unrealistic.

We’ve all been in the metaverse for years, if it means the internet or the digital world. But Meta’s definition of this persistent interconnected 3D world, experienced with a big VR headset on your face, where we live and go to meetings and shop like that, that’s certainly not going to happen.

Other than that, Libin agreed, the components of the metaverse like augmented reality have a “big future” and hold the potential to bring about real change in our personal and professional lives. Apple is expected to launch its AR/VR headset in 2023.