Tech Behemoths Could Become ‘Dinosaurs’ if They Enter the Metaverse for the Wrong Reasons, Deepak Chopra Says

Chopra, founder of health-care company Chopra Global, discusses why big names in tech could succumb to short-lived success if they leap into the metaverse with the wrong intentions.

AccessTimeIconOct 27, 2022 at 8:18 p.m. UTC
Updated Oct 27, 2022 at 8:47 p.m. UTC
Layer 2

Fran is a writer and reporter at CoinDesk. He owns no crypto holdings.

Tech giants need better motivation for moving into the metaverse than just making money if they want to make a true impact and avoid the fate of the “dinosaurs,” said bestselling author Deepak Chopra.

Chopra told CoinDesk TV’s “First Mover” on Thursday that, as with the dinosaurs, the principles of evolution tend to “sort everything out” when it comes to Big Tech.

“The whole metaverse is evolving … it’s unstoppable,” Chopra said. “The giants may not survive, as we’ve seen in the past when technologies take quantum leaps of creativity.”

Chopra said crypto, like the metaverse, is here to stay but its evolution will depend on patience and a more thoughtful motivation behind Web3-based projects.

“If the motivation is only money, it’s [not] going to have a future,” Chopra said, referring to tech conglomerates, such as Meta, that are attempting to be pioneers in the metaverse. Meta recently reported its venture into the metaverse is not making the money it expected, revealing a loss of over $3.7 billion in the last quarter.

Chopra, co-founder of Web3-based platform Seva.Love, is also venturing into the metaverse. His “ChopraVerse” will try to create a more socially conscious Web3 community via the use of educational tools as well as a platform that supports mental health and well-being.

“Our venture into the metaverse is only about well-being,” Chopra said.

The state of mental well-being in the world is in “crisis,” and is being influenced by the “dark side” of technology, he said. But because technology is neutral, it can be used for good – so long as the intention behind a Web3 project is authentic and purposeful.

Speaking of intentions, Chopra said he is critical of celebrities who tout crypto or other digital-based tokens or projects they know little about. These celebrities should be “very careful” about promoting something that “is not their expertise.”

There are celebrities in the “Chopraverse,” however: Alejandro Saez, Maria Bravo, Eva Longoria and Javier Garcia.

Chopra, who has over 3 million followers on Twitter, said he is not leading the “Chopraverse” because he’s a celebrity, but because he has been at the “forefront of mind, body and medicine.”

“This is the next leap in creativity,” Chopra said.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Fran is a writer and reporter at CoinDesk. He owns no crypto holdings.

CoinDesk - Unknown

Fran is a writer and reporter at CoinDesk. He owns no crypto holdings.