"The metaverse is at the same time a social space and live network space where games, music, movies, and anime intersect," CEO Kenichiro Yoshida.
He pointed to the use of the free-to-play battle royale title Fortnite from Epic Games as an online social space.
"We are aiming to turn the mobility space into a new entertainment space... We believe mobility will be the next megatrend," he said.
Sony has also taken steps to expand beyond its focus on single-player titles like "Spider-Man: Miles Morales" with a deal to buy Bungie, the developer of online multiplayer shooter "Destiny."
"PlayStation has played a huge role in the social gaming revolution that's nurturing the growth of the metaverse as a new entertainment medium," Epic's CEO Tim Sweeney said.
Sony's game, music, and movie units contributed two-thirds of operating income in the year ended March.
Price Action: SONY shares closed higher by 1.54% at $87.69 on Tuesday.
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