By
Chimamanda U. Martha
April 12th, 2024
The metaverse is expanding, and it will continue to grow. Bravo said that “it’s [metaverse] going to be very big.”
Tech billionaire and Puerto Rican businessman Orlando Bravo referred to metaverse as a “big time” investment case., adding that it is investable. The concept of metaverse has dominated the world this year. Evidently, the new concept is gradually becoming a big thing with the revolution of virtual reality technology. As Metaverse finds its root, there is an upcoming Metaverse conference scheduled to hold in December. Representatives from established companies, internet giants, hardware manufacturers, and more will be attending the 2021 Metaverse Conference in Suzhou, China.
Orlando Bravo says Metaverse is Investable
Speaking in an interview with CNBC, Bravo, the co-founder and managing partner of private equity firm Thoma Bravo, said metaverse is the new big word of the year. The tech billionaire added that the metaverse is investable. In his opinion, the metaverse is expanding, and it will continue to grow. Bravo said that “it’s [metaverse] going to be very big.”
Apart from his belief that the metaverse is investable, Bravo is also a crypto lover. The businessman is bullish on crypto, and he holds an undisclosed amount of BTC. While speaking at CNBC’s Delivering Alpha conference in September, Bravo said:
“How could you not love crypto? Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their financial system. So it is here to stay.”
Last month, the metaverse became a topical term when Facebook Inc (NASDAQ: FB) changed its name to Meta. At the time, Facebook referred to Meta as a “Social Technology Company.”
While announcing the new name, the company’s founder, Mark Zuckerberg, said that Facebook was beginning a new chapter with Meta. Zuckerberg said the social media networking company will now focus on the metaverse and primarily bring it to reality. He added that the new social technology company would connect people, find communities, and grow business.
Facebook Embraces Metaverse
To further support the emerging social technology, Meta announced new tools to help people build for the metaverse. They include Presence Platform, which will enable mixed reality experiences on Quest 2. Meta also plans to educate and train the upcoming generation of creators. According to Zuckerberg, the metaverse is the next frontier, just as social networking was.
Facebook’s announcement was mocked in a video that shows a Zuckerberg look-alike introducing viewers to “Icelandverse.” The video, by Inspired by Iceland, referred to Icelandverse as an “enhanced actual reality without silly-looking headsets.”
As the metaverse becomes the latest topic in the tech world and now appears to be investable, several companies, including Microsoft (NASDAQ: MSFT), are working to develop the software and hardware that could power the new technology.
Also, Barbados is already planning to unveil the first metaverse-based embassy in the world. To this effect, the Island country is concluding the detail of its deal with blockchain projects such as SuperWorld and Somnium Space.