Daily Expert News
No Result
View All Result
Tuesday, July 5, 2022
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Daily Expert News
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
No Result
View All Result
Daily Expert News
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Home Business

Sony is poised to star in the Metaverse Revolution

by Nick Erickson
May 18, 2022
in Business
132 1
0
Sony Readies To Play A Lead Role In The Metaverse Revolution
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT
ADVERTISEMENT


ADVERTISEMENT

Sony gears up for metaverse revolution with cross-platform push

Japanese conglomerate Sony Group Corp said it is well positioned to take a leading role in the metaverse, or immersive virtual worlds, which commentators speculate will massively disrupt industries and establish new powerhouses.

The metaverse is a vague term that encompasses the idea that consumers will spend more time in simulated environments online. As the concept evolves, it has become a buzzword in briefings and a driving force behind industry deals.

“The metaverse is simultaneously a social space and a live networking space where games, music, movies and anime intersect,” Chief Executive Kenichiro Yoshida said during a strategy briefing Wednesday, pointing to the use of Epic Games’ free-to-play battle royale title Fortnite as an online social space.

Sony’s gaming, music and film units contributed two-thirds of operating income in the year ended March, underscoring the group’s transformation from a consumer electronics manufacturer to a metaverse-ready entertainment juggernaut under Yoshida and predecessor Kazuo Hirai.

The company is a gaming gatekeeper with its PlayStation 5 console, but observers point to the risk of the growth of cross-platform, cloud-based titles and their potential to diminish the influence of proprietary platforms.

Sony has tweaked its approach, allowing for cross-play in Fortnite in 2018. This week, Epic said that in-game “V-Bucks” currency purchased on PlayStation would be usable on other platforms.

“PlayStation has been instrumental in the social gaming revolution fueling the growth of the metaverse as a new entertainment medium,” Epic CEO Tim Sweeney said on Twitter.

Sony has also taken steps to move beyond its focus on single-player titles such as “Spider-Man: Miles Morales,” with a deal announced in January to buy Bungie, the developer of the online multiplayer shooter “Destiny.”

“We believe it will be a catalyst to enhance our live service gaming capabilities… (It) represents a big step forward to becoming multi-platform,” said Yoshida.

Sony already licenses its content to other platforms, taking advantage of the value to streamers of content such as the popular US sitcom “Seinfeld”. While the company owns the Crunchyroll anime streaming service, it hasn’t pushed as aggressively to exploit its own video platforms as rivals like Walt Disney Co. with its Disney+ service.

In addition to the metaverse, Yoshida also staked Sony’s mobility claim, with the conglomerate developing an electric vehicle with Honda Motor Co Ltd.

Sony created a new lifestyle in 1979 with the launch of the Walkman, Yoshida said.

“We strive to make the mobility space a new entertainment space… We believe that mobility will be the next megatrend,” he said.

(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)

ADVERTISEMENT
Tags: DailyExpertNewsMetaversepoisedRevolutionSonystar

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Related Posts

NDTV News
Business

Restaurants are not allowed to tip staff

July 4, 2022
Byju
Business

Byju’s gets $800 in new financing at a $22 billion valuation

July 4, 2022
NDTV News
Business

Sensex, Nifty Snap 3-Day Losing Run As A Consumer, Bank Stocks Rising

July 4, 2022
NDTV News
Business

Confidence in taking $12 a barrel margin hit by windfall tax

July 4, 2022
“Alternative to cash is crypto,” says Central African Republic president
Business

“Alternative to cash is crypto,” says Central African Republic president

July 4, 2022
This Crypto Exchange Suspends Withdrawals, Trading And Deposits
Business

This crypto exchange is suspending withdrawals, trading and deposits

July 4, 2022
  • Trending
  • Comments
  • Latest
This optical illusion has a revelation about your brain and eyes

This optical illusion has a revelation about your brain and eyes

June 6, 2022
NDTV Coronavirus

Viral video: Chinese woman pinned down, Covid test carried out by force

May 5, 2022
Hundreds In Sarees At UK

Hundreds of sarees at Britain’s Royal Ascot Horse Race to help Indian weavers

June 16, 2022
Sabrina's parents love her. But the meltdowns are too many.

Sabrina’s parents love her. But the meltdowns are too many.

June 1, 2022

Hello world!

0
NDTV News

IT startup Fareye aims to change Unicorn within a year, founder says

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
Your Tuesday briefing

Your Tuesday briefing

July 5, 2022
Live Updates: Highland Park, Illinois, July 4 Parade Footage

Live Updates: Highland Park, Illinois, July 4 Parade Footage

July 5, 2022
As Young Blood enters South Korean politics, new (and old) barriers arise

As Young Blood enters South Korean politics, new (and old) barriers arise

July 5, 2022
International Bikini Day 2022: 4 beautiful beaches to wear bikini in India that are not in Goa. lying down

International Bikini Day 2022: 4 beautiful beaches to wear bikini in India that are not in Goa. lying down

July 5, 2022
ADVERTISEMENT

Recent News

Your Tuesday briefing

Your Tuesday briefing

July 5, 2022
Live Updates: Highland Park, Illinois, July 4 Parade Footage

Live Updates: Highland Park, Illinois, July 4 Parade Footage

July 5, 2022

Categories

  • Africa
  • Americas
  • art-design
  • Arts
  • Asia Pacific
  • Astrology News
  • books
  • Books News
  • Business
  • Cricket
  • Cryptocurrency
  • Dance
  • Dining and Wine
  • Economy
  • Education & Career
  • Europe
  • Fashion
  • Food
  • Football
  • Gadget
  • Gaming
  • Golf
  • Health
  • Hot News
  • India
  • Indians Abroad
  • Lifestyle
  • Markets
  • Middle East
  • Most Shared
  • Motorsport
  • Movie
  • Music
  • New York
  • Opinion
  • Politics
  • press release
  • Real Estate
  • Review
  • Science & Space
  • Sports
  • Sunday Book Review
  • Tax News
  • Technology
  • Television
  • Tennis
  • Theater
  • Top Movie Reviews
  • Top Stories
  • Travel
  • Uncategorized
  • Web Series
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links

We bring you the Breaking News,Latest Stories,World News, Business News, Political News, Technology News, Science News, Entertainment News, Sports News, Opinion News and much more from all over the world

©Copyright DailyExpertNews 2022

No Result
View All Result
  • Contact Us
  • Home
  • Top Stories
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • India
  • Education & Career
  • Arts
  • Advertisement
  • Tax News
  • Markets

©Copyright DailyExpertNews 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.