Sony Announces Metaverse Push at Latest Annual Corporate Strategy Meeting

As part of its entertainment strategy, global electronics giant Sony has announced that it will take a more focused approach to the metaverse experience. The company that owns the Playstation brand has revealed that previous investments in Fortnite game maker Epic and another game studio, Bungie, are part of this new momentum.

Sony Takes Metaverse Seriously

Gaming and entertainment brands are now looking to integrate the metaverse experience to encourage more users to enter the ecosystem. Sony, one of the most influential companies in the entertainment and gaming space, has announced that it is interested in including more metaverse-inspired experiences to attract customers.

At the annual strategy meeting held this week, Sony CEO Kenichiro Yoshida said: decided:

Metaverse is a social and live network space where games, music, movies, and animations intersect.

Sony’s previous investments in other companies include Epic Games, creators of the popular online franchise Fortnite, and Bungee, creators of the Destiny series, which are part of this new focus. According to the figures presented by the company, more than 50% of revenue in the past fiscal year came from Sony’s entertainment sector, which includes services related to games, movies and music.

Playstation vs other metaverse players

Sony plans to use the Playstation brand to secure one of the leaders in the metaverse industry. The Sony Playstation has one of the largest installed user bases in the world, so it can serve as a tool for this new metaverse push. In that sense, the company decided “We will leverage the unique strengths provided by our diverse business and gaming technology expertise to create new entertainment experiences in the metaverse realm.”

However, the company is already catching up with others in areas like Meta, which is producing hardware to provide customers with an immersive metaverse experience. Meta owns the Oculus brand of VR headsets and offers their flagship Metaverse app called Horizon Worlds only to owners of these products.

Microsoft is another company establishing itself as a metaverse player by acquiring Activision for nearly $69 billion as an approach to metaverse and releasing Mesh, an enterprise metaverse for the Teams conferencing suite.

Sony has already introduced a line of VR2 headsets that work with their line of PS5 consoles. The headset was rumored to be released this year, but delay Until 2023 due to supply chain problems.

What do you think about Sony’s metaverse push? Let us know in the comments section below.

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Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as being late to the game, jumping into crypto when the price spike happened in December 2017. With a computer science background and living in Venezuela, influenced by the cryptocurrency boom on a social level, he offers a different perspective. He discusses the success of cryptocurrencies and how it helps them to be bankless and out of service.

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