Snapchat CEO Still Figuring Out Meta’s Metaverse Vision -

Evan Spiegel Skeptical of Zuck Buck’s Vision

Since Mark Zuckerberg has changed the title of his organization, Meta (formerly Facebook) is constantly working towards the development of metaverse. It is believed to become one of the leading entities in virtual worlds. Though many are eagerly waiting for digital worlds to come mainstream, people like Eval Spiegel, Snapchat CEO, is not impressed by Zuck Bucks’ vision.

He says that “He is still trying to figure out what this means?” Both the organizations are going head to head in the race to dominate the social media space, but competing with an organization like Meta will require Snapchat to pull up their socks. Recently, Snap cut down its workforce by 20% from the previous month, and the company stocks are down by 75% this year.

Spiegel says that they are really working hard to get back on track. Given its 350 Million daily active users it appears like the organization has a window to recover the losses. They are targeting 6 Billion USD in revenue for 2023. Evan says that the road to recovery will be a challenging task, especially when they are against giants like Meta. But he is not willing to sell the organization to a bigger animal in the game.

Meta is a tough competitor to organizations like Apple, Twitter and more. The fact that they are working on their metaverse makes the situation more challenging for the behemoths in the game. Currently, Horizon Worlds — metaverse game by the company — has not witnessed success similar to what they are experiencing in the social media space.

Metaverse development requires a lot of effort by the developers. Sure companies like Meta, Apple, Nvidia and more are working hard to achieve the goal to develop the virtual worlds, however, if these organizations join forces to work on a single objective, it may prove much more fruitful.

The notion of digital worlds still has to travel a long path to become mainstream. But people and organizations across the globe are already marking their presence in metaverse games like The Sandbox, Fortnite, Decentraland and more.

Anurag S

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.