Candle Media CEO Kevin Mayer Says Mark Zuckerberg Owning the Metaverse Is ‘Absurd’ (Podcast)

Candle Media CEO Kevin Mayer Says Mark Zuckerberg Owning the Metaverse Is ‘Absurd’ (Podcast)

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Amid the rise of immersive environments and virtual reality across a number of platforms and companies, Candle Media co-founder and CEO Kevin Mayer called the idea that Mark Zuckerberg owns the Metaverse of “absurd”.

“You see each of these universes, if you want, and the metaverse gains all the interoperability and you can take things out of each of them — I think that’s what I would call the metaverse,” Mayer said. on TheWrap’s “Tech vs Media” podcast with host Richard Wolpert. “We are not there yet. It doesn’t exist yet, but I think we should expect it to happen in the not too distant future. But Zuckerberg owning the Metaverse and it all seems a bit absurd.

For Mayer, who identifies video games as the first manifestation of the metaverse, video games and blockchain are essential to creating a truly complete virtual reality space.

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“As many of these universes exist, you need to have interoperability between them, which is where blockchain can be very helpful,” Mayer said. “It will enable interoperability and transportability of goods between different instances of the metaverse, and I think video games are leading the way there.”

Despite blockchain’s usefulness, the former TikTok CEO echoed OnChain Studios CEO Will Weinraub’s concern that NFTs are “grossly” overhyped and require real world benefits to prove their worth.

“I’m not a fan of the ridiculous hype around Web3 and the whole NFT stuff,” Mayer said, noting that the industry needs to focus on “the benefits and functionality of the product versus the underlying technology. “, because NFTs are “enablers to create something of value.”

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“I think people got it a bit wrong that if you have something on the blockchain, then there’s one that’s automatically valuable,” he continued. “And I don’t think that’s true. I think there has to be some underlying inherent value, and then you can prove ownership, and you create secondary markets, and there’s a lot of good stuff about that. But the hype is greatly exaggerated.

While NFTs may not yet prove essential to the evolution of immersive spaces, Mayer sees blockchain as an “important part of the future of the world.”

“Blockchain is the primary means of proving ownership of a digital asset indisputably, if desired, and as a result, it can create scarcity,” Mayer said.

Listen to the full episode below.

Episode Highlights:

  • Kevin Mayer reviews his favorite acquisitions he oversaw during his time at Disney, including Marvel and LucasFilm – and why he would have liked to see a deal with Lego

  • Kevin Mayer explains why he thinks Netflix is ​​the fittest streaming service and gives his thoughts on adding an ad tier

  • Kevin Mayer breaks down what he learned as CEO and COO on TikTok and how their e-commerce and storytelling strategy influenced his own professional approach

  • Kevin Mayer shares his take on the ongoing video competition between TikTok and YouTube

  • Kevin Mayer speaks to the hype around Web3 and NFTs and explains why he thinks there must be “inherent value” to attract real-world audiences in the long run

  • Kevin Mayer predicts Apple could rock the market if it releases a great VR headset

  • Kevin Mayer explains how he and Tom Staggs managed to thrive as co-founders and co-CEOs

About “Tech vs Media”

In each episode of “Tech vs Media”, host Richard Wolpert – who has decades of tech and media experience as an executive, tech company founder, venture capitalist and philanthropist – and l one of its esteemed guests will divulge illuminating lessons and give their insightful perspective on the drivers, creators, disruptors and innovations that are shaping the future of media and technology and how these industries will intertwine.

New episodes of “Tech vs Media” drop weekly. Click here for all episodes.

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