Former Google CEO, Erik Schmidt, says the metaverse term still does not have a unified explanation "even though one company has changed its name in anticipation of defining it," CNBC .
Speaking at the Aspen Ideas Festival in Aspen, Colorado, the billionaire noted there's still confusion when people try to guess how the metaverse might affect global relations. He said:
"There's not an agreement on what the metaverse is, even though one company has changed its name in anticipation of defining it."
In May, Andreessen Horowitz (a16z) FUND ONE will back game studios, infrastructure services and games themselves similar in their business model as Fortnite, League of Legends or Minecraft.aimed at the metaverse industry. The firm said that the so-called GAMES