Meta: the Facebook group makes a bold decision regarding the metaverse

JVTech News Meta: the Facebook group makes a bold decision regarding the metaverse

Although Meta posted disappointing numbers in 2022 with its Horizon World’s metaverse, the Facebook group isn’t planning on stopping there. With this new announcement, stopping the development of metaverses does not seem to be in Mark Zuckerberg’s plans, far from it!

While the group bringing together Instagram, Facebook, Messenger and even WhatsApp revealed a 4% lower turnover compared to 2021, the company announced the color for the coming months. In a press release entitled “Why we still believe in the future”, Meta first commented on its disappointing results by deploring the economic conditions.

“We never thought it would be easy or straightforward, but this year has been even harder than expected. ” indicates Meta in its press release.

Despite its poor financial results for the company in 2022, Meta continues to bet big on the metaverse and virtual reality for years to come.

Specifically, the group intends to reserve 20% of its investments for the development of Reality Labs, the branch dedicated to virtual and augmented reality of Meta. Despite Reality Labs losing $9.44 billion in the first three quarters of 2022, the company believes this is the way to go to meet expectations for its metaverse.

“As also reflected in our third quarter results, approximately 80% of Meta’s overall investment is in the core business, with the remaining 20% ​​going to Reality Labs. It’s a level of investment that we believe makes sense for a company committed to staying at the forefront of one of the most competitive and innovative industries in the world. explains Meta in his press release.

Determined to conquer the 3D virtual world called metaverse, at the end of 2021, Facebook announced its new identity: Meta. However, since this assertive risk-taking, the giant of the metaverse has suffered some turbulence…

With a drop in its share price of 65% and almost 11,000 fewer employees, Meta wants to be reassuring this end of the year. Despite reviews of dwindling user expectations, the group is growing forward and community building on its Horizon Worlds metaverse.

“We also saw the beginnings of a new community of creators on our platforms: virtual world builders. It’s not often you see a whole new form of self-expression and community building emerge on a platform, and how the creators worked their magic on Horizon Worlds this year. was a thing to see. We’re going to spend 2023 focusing on building this community. rejoices Meta.

In this sense, Meta wants to emphasize the new tools dedicated to metaverse professionals such as the Meta Quest Pro and its VR and AR lenses.

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