Gary Vaynerchuk interviews Mark Zuckerberg: What are your thoughts on NFTs and the Metaverse?

Gary Vaynerchuk is a well-known American entrepreneur and internet personality who is very passionate about NFTs and cryptocurrencies. Today (the 22nd), he released a video interview with Meta founder Mark Zuckerberg. Here are some highlights from the interview that we have compiled. (Bold text represents questions and comments from Gary Vaynerchuk)

Gary Vaynerchuk is a well-known American entrepreneur and internet personality who is deeply interested in NFTs and cryptocurrencies. He released a video interview with Meta founder Zuckerberg on the 22nd. Here are some highlights from their conversation. The bolded text indicates questions and comments from Gary Vaynerchuk.

What do you think the metaverse is? Zuckerberg: It's the beginning of a transformation in social interaction, similar to the development of social networks in 2004 when we started. It's about changing the relationship with the brand. We are actually a tech company that uses different technologies to help people connect, and the focus in the future will be on building immersive platforms and technologies. Meta has been investing in this field for seven years.

When you acquired Oculus, it was surprising because that would be a long-term development. Why? Zuckerberg: We used to work on apps for smartphones, and even though smartphones are powerful, there are still many limitations. "Immersive" is our ultimate goal, and although current technology cannot fully achieve this yet, we have envisioned its development.

Do you think this technology will develop in the next 3-5 years? Zuckerberg: I think it needs to be looked at from different perspectives. VR (virtual reality) and AR (augmented reality) are already here, and Quest is in the process of becoming mainstream, with applications and technologies improving. AR requires a completely new visual device, not just a screen, to allow people to see things in front of them, like wearing glasses. This technology will take time.

Is it possible to have a device like invisible glasses in the future? Zuckerberg: Many people are working on it, but it will take time because no matter what the projecting device is, it needs to be connected to the internet and powered. I have seen projection devices similar to invisible glasses, but the challenge lies in how to maintain connectivity and battery power throughout the day. However, AR glasses should be available within the next five years.

Pokémon GO amazed the world when it was released, but in the five years since then, no AR mobile app has surpassed it. What are your thoughts? Zuckerberg: I think it's a location-based game, not an AR game. Although players can see Pokémon through the camera, its core mechanism is to bring users to real locations, which can be achieved with or without AR. The core application of AR is more like filters, such as face filters and special effects filters, and this development will continue to grow, especially when combined with AR glasses. I hope that in the next ten years, technology will allow for tactile feedback, making the interactive experience with AR more realistic, such as feeling the sensation of sword fighting with someone.

The company that can capture the most attention will be the winner? Zuckerberg: This is the reason Facebook changed its name to Meta. VR, AR, and social platforms complement each other, integrating new technologies into the social experience.

Are you adaptive to NFTs? Zuckerberg: I have always believed that virtual items are feasible. But I think the magic of NFTs and Web3 is that they were designed to work well together from the start. I think this is important because it breaks down barriers between existing apps, making your items easily transferable, something people are increasingly looking forward to. For creators, it is also worth investing in, as virtual items designed for games can be used in other games. Unlike physical items with limited uses, NFTs make "items" more easily circulated. The purchasing behavior in the digital world is actually a way to express self-identity, and it is because of this that businesses can thrive.

Gary Vaynerchuk responded, likening it to when children played Minecraft and Roblox when they were young, and Fortnite when they grew up; you couldn't take money from previous games. But in the future world, this will be possible, and game equipment can be exchanged for equipment in another game, creating a global economic system. Gary Vaynerchuk also noted that even Twitter's verification mechanism and follower count can already show the visual representation of social capital, and after the NFT market reaches its peak, this phenomenon will become more apparent. Our world is almost becoming a fashion industry because we express ourselves through what we wear, and in the future digital world, this phenomenon will have a deeper impact on society. In today's shopping behavior, much of it is unseen, but in the digital world, the items people purchase can be seen. He also mentioned that Meta's previous game, Happy Farm, made people willing to buy and sell virtual items, which helped him quickly understand the key to NFTs. Web3 and the metaverse will take people to a completely different world.

Would you like to own NFTs? Zuckerberg mentioned that he used to collect baseball cards in the past. He is open to new things and, of course, will try to experience and participate in new things in the cryptocurrency community. He said he wouldn't describe the current situation negatively because the future will definitely be better than the present, and the key is to discover things that will shine in the future.