Zuckerberg Bet Everything With Meta: The Metaverse Is The Most Expensive Bet Ever Made
Meta recently, in a press release published in a blog, explained this: “Because we still firmly believe in the future”. And that is the future of the Metaverse.
Mark Zuckerberg must believe this because he bet about 10-15 billion dollars a year on his metaverse-related projects.
But in the past 18 months, the company’s share value has plummeted a lot.
Which has led to criticism from some investors. But Mark Zuckerberg doesn’t seem to care too much and continues to firmly believe in his dream: a world connected through virtual reality.
He would like to bring billions of users to his applications.
It’s not just a question of money, but also a question of the future.
Because the Metaverse promises to dramatically revolutionize the way we interact with each other and with our surroundings. It can enable people living in different places to connect remotely, explore new cultures and become a part of history in a better and more interactive way.
Mark Zuckerberg believes in the Metaverse era as a possibility to better connect people to each other. That sounds really promising! Although at the moment it is still all to be seen.
THE LATEST STATEMENTS FROM META
During the World Economic Forum in Davos, Switzerland, Chris Cox, chief product officer of Meta, went into detail about what his vision of the future of the Tech world represents.
He associated the impact of the Metaverse with what the smartphone has had on our society.
Cell phones have created a “perennially connected world,” said Cox, who thinks the Metaverse will also play a big part in consumers’ lives.
Chris Cox then continued, in the same context, explaining that:
Mark Zuckerberg’s company has “worked tirelessly” over the past few years to make virtual reality accessible to consumers.
“However, the current limitation in the Metaverse project is that it still lacks interoperability with other platforms.” In short, there is further work to be done, but the chief product officer of Meta is convinced that in the future that of the Metaverse will be a “trump card”.
Indeed confirm the strong commitment to the Metaverse, both economic and human resources.
Zuckerberg’s company recalled that by making Quest Pro viewers available, they provided developers with effective tools to create mixed-reality environments.
Meta’s vision is to make VR devices “an increasingly compelling alternative to laptops and desktops.”
According to Meta, it won’t be long before a VR headset can emulate a home computer with a powerful setup and that headset can be used wherever you are.
STILL RAINING BILLIONS IN THE METAVERSE IN 2023
What does a player do when he is sure of his play? Raise!
In fact, Meta has already announced that in 2023 Meta will invest another 19.2 billion dollars in the 3D reality project.
– The company’s Reality Labs division will absorb 20 percent of all expenses of Meta, which also owns Facebook, WhatsApp, and Instagram.
– Reality Labs CTO Andrew Bosworth wrote in a blog post that the company plans to spend at least as much on the metaverse as it did in 2022, though reports said it lost $9.4 billion in the first nine months of the year.
– Meta’s total expenditures in 2023 are estimated at $97.3 billion, hence the 20 percent allocated to the Metaverse sector.
It is not only the companies that own the various worlds that invest in the Metaverse, such as The SAndbox, Roblox, or Decentraland.
They are also the same individuals and companies such as Gucci, Nike, Fiat, Nissan, and sports players such as Marco Verratti or musicians such as Snoop Dogg.
This helps us understand that an economy is being created there.
So if you are also interested in understanding the inner workings and how things work in the Metaverse, the opportunities for earning and investment, and everything there is to know, then download our guide. This free guide was written by those who already know the Metaverse very well. Click on this link and get it for free: https://vestvers.com/real-estate/
Currently, the product of Meta churned out for the Metaverse is Horizon Worlds. What it is and when it was born and how it works:
Horizon is a virtual reality platform developed by Meta. The platform was launched in 2021 and provides users with the ability to create, explore and enjoy virtual reality content through their VR headsets.
Users can create custom avatars that can interact with other users in different thematic areas of the platform. Horizon Worlds offers all users the opportunity to engage in a wide range of activities, such as games, fun social experiences, and many others.
The platform also offers users the ability to create personalized content to share with other users. Developers can also design content for Horizon Worlds, thanks to the wide range of tools provided by the platform.
This platform was born as a work tool for meetings and conferences in virtual reality with avatars. Horizon Worlds also offers a platform for companies wishing to develop learning solutions.
THE RACE IS ALSO AGAINST TIME: 9 BILLION UP IN SMOKE
To be precise, the loss suffered by the Reality Labs division of Meta is 9.4 billion in nine months.
The consequence was that Meta suffered the reaction of the Stock Exchange.
– The stock, crushed by pessimism, plunged on Wall Street.
– Since September 2021, the value of the shares has fallen by more than 60% to date. Worse than Bitcoin.
– A leap that caused the 550 billion market cap to be canceled.
A scenario that has raised concerns among investors and questioned the credibility of Metaverse technology.
That must change course quickly if Facebook does not want to find itself with its back to the wall and with heavy debts.
However, Meta has not given up and is working on the creation of new forms of enthusiasm such as virtual leagues, involving realities such as the NBA or NFL, with which it has been collaborating for months in order to amplify the level of entertainment and to create an investor base.
All this to return to being the leader in virtual reality technology, as envisioned by CEO Mark Zuckerberg. Given Meta’s passion and commitment, fans can only look forward to great things in the future.
Who will win the bet?
Once again Meta, albeit with some small (and expensive) hitches, seems determined to push its technology toward expansion.
Will Mark Zuckerberg be able to bring the Metaverse to success and ensure the desired earnings?
Only time will tell, there is the truth that those who invest in this virtual reality cannot be disappointed by the great results that are promised to arrive.
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