Adobe Looks to Collaboration, the Metaverse and NFTs For Growth

The creative design software maker is releasing new tools for working together and ensuring content is authentic.

Photographer: Daniel Acker/Bloomberg
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Adobe Inc. Chief Executive Officer Shantanu Narayen sees tools that foster teamwork and products that take advantage of trends in the digital world such as non-fungible tokens and virtual reality as the next wave of growth for his company that dominates creative design software.

The company will release test versions of two products that let people work together: Creative Cloud Spaces, which provides a place for teammates to organize files, libraries and links, and Creative Cloud Canvas, which lets people display their design work to review with others who are part of the project. Adobe will also test web versions of Photoshop and Illustrator, which it hopes will let multiple people work more easily on projects using that popular software. While collaboration tools have been commonplace for other types of software like word processing and spreadsheets, it has been more difficult to make sharing massive, detailed digital images and videos elegant and easy, said Adobe Chief Product Officer Scott Belsky.