- Meta has spent $15 Billion in their research and development.
- Mark Zuckerberg revealed Meta Quest Pro during Meta Connect.
- Many believe that the company will become the biggest player in the metaverse.
Digital World Development Eating Meta Funds?
It is not hidden to anyone how quickly Meta is going with the metaverse development in recent times. Since it announced that they are changing their title from Facebook to Meta, they have not looked back. They are throwing a lot of money to develop a virtual world. We know that this investment is going for their virtual world, but where exactly?
According to the reports, Meta has already spent 15 Billion USD in their research and development arm Reality Labs. But it is still unclear where specifically these funds are going. There is no doubt that Meta is working their bones with respect to the development of their virtual realm. The company revealed some interesting details regarding the Horizon at the Meta Connect Conference.
Several experts expressed their opinions in this matter too. An expert thinks that money flow is a problem but transparency regarding where it is going is a disaster. Another analyst believes that research and development is accountable for 60% of the company’s losses. A Tigress Financial Partner researcher says that “He has faith in Zuck Bucks’ long term vision.”
No one knows where Mark Zuckerberg is sending out the funds particularly. But we can say that all of it is linked to the development of digital space. Meta CEO launched their VR goggles Meta Quest Pro during Meta Connect conference. But at least now we know why the gadget comes at such a hefty price, they need to recover it obviously.
Zuckerberg offered a glimpse on the new updated graphics of his digital avatar and Horizon. He also showed-off his virtual self with legs during the Meta Connect conference. Previously, he was mocked due to the poor graphics and terrible selfie of his Horizon character.
Rome Wasn’t Built in a Day, How Can Metaverse?
Higher graphics, motion capture, interoperability and more does not come at a cheap price. People need to understand that if they want to experience an immersive, photorealistic and physics-accurate metaverse, then it comes at a cost, that too with extremely expensive gears. Meta wants to earn the crown and it appears like nothing is stopping them to achieve what they desire on their way.
Developers require advanced technologies to develop the metaverse. Latest report says that the AR/VR sector will boom upon its arrival. Steven Spielberg’s Ready Player One presented “The Oasis” to the people. Considering the recent developments and launches from tech giants, it appears like this film predicted how the future will look like for humanity.
However, there’s still a lot of work for tech titans out there, and until everyone is able to enter the metaverse without paying a cost, we cannot say that it has gone mainstream.
Source: https://www.thecoinrepublic.com/2022/10/14/meta-is-throwing-big-bucks-for-metaverse-but-we-cant-see-it/