AI? VR? The term might just refer to whatever Meta is doing now.
Almost two years ago, Mark Zuckerberg rebranded his company Facebook to Meta — and since then, he has been focused on building the “metaverse,” a three-dimensional virtual reality. But the metaverse has lost some of its luster since 2021. Companies like Disney have closed down their metaverse divisions and deemphasized using the word, while crypto-based startup metaverses have quietly languished or imploded. In 2022, Meta’s Reality Labs division reported an operational loss of $13.7 billion.
But at Meta Connect 2023, Zuckerberg still hasn’t given up on the metaverse — he’s just shifted how he talks about it. He once focused on… More.
Meta launches Quest 3 and continues to focus on the metaverse — even though the market isn’t as positive. Zuckerberg shows a shift in his thinking about the concept.