Mark Zuckerberg’s ‘metaverse’ receives an acknowledgment from the Puerto Rican billionaire businessman Orlando Bravo as a ‘big-time’ investment case.
Bravo, co-founder and managing partner of private equity firm Thomas Bravo, said that he believes “metaverse” is the big word of the year 2021.
During an interview with CNBC on Friday, Bravo said, “It’s investable and it’s going to be very big”.
The metaverse is a sci-fi concept that allows its users to work, live and play in a virtual environment using a specific headset or smart glasses. The concept sounds similar to the one shown in the “Ready Player One” novel and the movie. It is either a utopian dream or a dystopian nightmare.
The term metaverse came under the spotlight when Facebook co-founder Mark Zuckerberg replaced Facebook’s name with Meta announcing that the new company was focusing on the metaverse.
He said, “The metaverse is the next frontier just like social networking was when we got started”.
Earlier last week, a video created by Inspired by Iceland— a marketing campaign for Icelandic tourism—mocked the metaverse concept. The video showed a Zuckerberg lookalike introducing the “Icelandverse,” a place of “enhanced actual reality without silly-looking headsets” to the audience.
Numerous other companies such as Microsoft, Nvidia, Roblox, and Britain’s Improbable are already working on building the software as well as hardware that could be used to power the metaverse.
Thomas Bravo has more than $83 billion in assets under management and a portfolio that comprises over 40 software companies. It has invested in firms such as cybersecurity firms McAfee and Barracuda and enterprise software firm Dynatrace.
Bravo is an avid supporter of crypto as well as the metaverse. He owns an undisclosed amount of bitcoin.
He said, “How could you not love crypto?” He added, “Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their own financial system. So, it is here to stay.”
