Despite a difficult year, Meta continues to bet on the metaverse

The company will continue to invest billions of dollars in the development of what it sees as the future of the Internet.

At the end of 2021, the Facebook group became Meta,officially announcing its project to build the metaverse. The American giant invested billions of dollars to develop its vision, but encountered several difficulties during the year. His strategy for the metaverse has come under criticism and Horizon Worlds, one of its virtual reality platforms, did not have the hoped-for success. The company also saw its revenues plummet for the first time and recently announced a plan to dismissal massive with the loss of 11,000 jobs.

Despite these difficulties, the firm will continue to bet on the metaverse. “I can say with confidence that after one of the most challenging years in the company’s history, Meta remains as committed to our vision for the future as the day we announced it”said Andrew Bosworth, chief technical officer of the company, which also leads the team dedicated to virtual (VR) and augmented (AR) reality, Reality Labs, in a blog post.

2023, a year as rich in investments as 2022

Andrew Bosworth justifies the choice of Meta by evoking “a few factors that we believe are misunderstood by many of our biggest skeptics”. He thus recalls that Instagram has over 2 billion monthly active usersWhatsApp 2 billion and that Facebook has reached a “record level” in terms of daily active users.

He also explains that the majority of investments are intended for this family of applications, which also includes Messenger. “As also shown by our third quarter results, approximately 80% of Meta’s overall investments support 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 world’s most competitive and innovative industries.”, says the technical director. In other words, Meta will not reduce its expenses for the development of the metaverse in 2023. The firm will also continue its investments in virtual and augmented realities.

For next year, it already plans to improve Horizon Worlds and unveil new devices, including the “successor to Meta Quest 2”, his virtual reality headset. In the spring, there will also be the “Meta Quest Gaming Showcase”, event during which new games will be presented. Other projects will take longer: “Our vision of true AR glasses will require years of progress to make our devices thinner, lighter, faster and more powerful, while consuming far less battery and generating far less heat”explained Andrew Bosworth.

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Despite a difficult year, Meta continues to bet on the metaverse


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