Sony claims it is well positioned to dominate in the metaverse, or immersive virtual worlds, which analysts anticipate will disrupt industries and create new powerhouses.
At a recent strategy briefing, Chief Executive Kenichiro Yoshida described the metaverse as a “social area and a live network environment where games, music, movies, and anime mix,” referring to Epic Games’ free-to-play battle royale game Fortnite.
Sony Group Corp. and KIRKBI, the holding and investment business behind the LEGO group, both donated $1 billion to Epic Games’ current fundraising round, which was revealed in April. The funds will be used to assist Sony strengthen its position in the metaverse.
“Our goal is to transform the mobility sector into a new entertainment sector. According to Yoshida, “mobility will be the next megatrend.”
Sony’s gaming, music, and movie activities generated two-thirds of operational income in the fiscal year that ended in March, underlining the company’s transformation from a consumer electronics producer to a metaverse-ready entertainment powerhouse under Yoshida and his predecessor Kazuo Hirai.
Sony’s PlayStation 5 allows the firm to become a metaverse gaming gatekeeper
Sony is a gaming gatekeeper with its PlayStation 5 console, but observers warn that the emergence of cross-platform, cloud-based games, and their propensity to erode proprietary platforms’ authority, poses a threat.
In 2018, Sony revised their policy and allowed cross-play in Fortnite. In-game “V-Bucks” purchased on PlayStation will be transferable to other platforms, according to Epic.
“PlayStation has played a huge role in the social gaming revolution that’s fueling the rise of the metaverse as a new entertainment medium,” Epic CEO Tim Sweeney wrote on Twitter.
With the acquisition of Bungie, the creator of the online multiplayer shooter “Destiny,” Sony has made steps to diversify its portfolio beyond single-player games like “Spider-Man: Miles Morales.” The agreement was made public in January.
“We expect it to be a catalyst for us to strengthen our live service game capabilities… Yoshida stated, “(It) represents a huge step toward becoming multiplatform.” Beyond the metaverse, Yoshida is seeking to strengthen Sony’s position in the mobility sector, with the corporation collaborating on an electric vehicle with Honda Motor Co. Ltd.
For MetaNews.