Zuckerberg Has Teufels about Facebook's New Big Thing

Zuckerberg Has Teufels about Facebook's New Big Thing ...

According to Facebook, the metaverse is the future, which has since formerly called itself Meta Platforms (FB) - Get Meta Platforms Inc. Class A Report.

For the time being, more questions than answers are emerging about this concept, of a virtual world in which we will interact with technological devices, such as virtual-reality headsets, powered by technologies such as virtual reality.

Mark Zuckerberg, the CEO of the social-media business, believes in it. Instagram, WhatsApp, Facebook, and Messenger are all convinced that the Menlo Park, Calif., company will soon reap the rewards of this daring wager.

Meantime, the metaverse remains a source of losses, and things aren''t about to change, according to Zuckerberg.

Facebook''s efforts to improve this immersive world will result in "significant" financial losses over the next three to five years, according to shareholders at the annual meeting on May 25. Holders should prepare themselves for additional losses relating to the metaverse.

Zuckerberg was responding to an investor''s question about the return on investment of billions of dollars spent on metaverse-related projects.

"We want to ensure the hardware is as affordable as possible for everyone and to ensure that the digital economy continues," Zuckerberg said.

Reality Labs, the company that hived Meta''s metaverse plans, recorded a $2.96 billion losson income of $695 million. In all of 2021 Reality Labs had a $10.2 billion loss.

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Billions of Dollars Spent on the Metaverse

Facebook has hoped to double its workforce in the Reality Labs division. However, the company has been bloated due to increasing concerns about advertising revenues due to the recession.

In 2014, Meta purchased VR company Oculus and changed the name of its flagship headset Oculus Quest to Meta Quest.

In 2021, the Meta Quest headset sold 8.7 million units, indicating that it has an audience for VR beyond the videogame-centric platform for which Oculus was originally created.

Facebook has announced its next VR headset, which is specifically designed for work. It was formally known as Project Cambria in October 2021, and promises to mirror users'' facial expressions in VR for a more real metaverse experience.

It should cost more than $800.

Facebook is attempting to assimilate virtual reality headsets and offer them the opportunity to realize what they''re building in Horizon Worlds, their social metaverse platform for Quest VR headsets.

Horizon Worlds intends to reduce digital assets by up to 47.5% in a total.

This overall charge includes a 30% hardware platform charge for Meta Quest Store sales, where it sells apps and games intended for its virtual reality headsets, and a 17.5% decrease as its Horizon platform fees, respectively.

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