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Mark Zuckerberg Believes Digital Items Can One Day Have the Same Market Size as Physical Items

Computer scientist and researcher Lex Fridman spoke with Meta’s CEO Mark Zuckerberg on the topic of the metaverse and social media. In the podcast, Zuckerberg shared his opinions and insights on the rapidly growing metaverse, and the hype around buying digital objects.

When talking about the metaverse economy, Zuckerberg compared digital and physical clothing and stated that digital wearables will likely obtain a large market soon in the future. As the entrepreneur explained: “why wouldn’t I spend almost as much money in investing in my appearance for my photorealistic avatar for a meeting, as I would for the ‘whatever I’m going to wear’ in my video chat?”

“If digital goods that you buy are not just tied to one platform or one use case, they end up being more valuable, which means that people are more willing and more likely to invest in them. That just spurs the whole economy,” 

he added, explaining how important it is for NFTs to be accessible across metaverses.

Virtual and augmented reality has a heightened feeling of presence compared to other digital platforms which often leave users feeling detached from feelings of interaction. The metaverse thus provides a more immersive and gratifying environment.

Zuckerberg said there could be a few versions of a person’s avatar in the metaverse with “different use cases for different things.” One could be cartoonish and expressive, while another could be photorealistic; a real identity and a fantasy one.

You can listen to the whole podcast here.

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