Meta compares the metaverse to the smartphone revolution

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Meta continues to believe in the future of Metaverse. According to the California giant, the emergence of virtual and augmented reality worlds is comparable to the smartphone revolution. However, to convince users, metaverses can run into a major obstacle, Meta admits.



At the World Economic Forum in Davos, Meta Chief Product Officer Chris Cox spoke about the evolution of the metaverse, reports Business Insider. According to the framework, Meta has developed a wide variety of virtual reality products over the past eight years.

These devices are intended as accessible and affordable as possible for users, says Chris Cox. Released in 2020, the Quest 2 headset has established itself as the best-selling VR headset in the world. Based on this success, Meta took the liberty of adjusting the price of the helmet upwards last summer, from 349 euros to 449 euros.

This range of VR accessories prevented the metaverse from getting off the ground. According to CCS Insight, sales of virtual and augmented reality headsets even collapsed last year. Similarly, Horizon Worlds, the metaverse developed by Meta, did not attract as many users as expected. With its simplistic graphics, it even draws ridicule from internet users.

Metaverse and smartphone, an unlikely comparison?


Despite the lack of love from the general public, Chris Cox remains confident. Following Mark Zuckerberg, he predicts a bright future for the metaverse. The admin doesn’t hesitate to compare the rise of the metaverse to it the advent of the smartphoneinitiated by Apple with the iPhone in 2007:

“One day this computing platform will be as important as the smartphone has become in our lives”.
According to Statista, more than 6.500 billion people in the world have a smartphone, or 83% of the population. In comparison, only 74 million people currently have access to a virtual reality headset, the German portal notes:

“While the global user base of VR/AR equipment will double over the next two years, Statista analysts estimate it will remain below 250 million people by 2027, a tiny fraction of humanity.”
vr headsets

Statista’s projections for VR/AR headset adoption

Before it becomes as essential as the smartphone has become, the metaverse still has room. Like Statista, CCS Insight analysts believe so augmented reality glasses, which is expected to flood the market from 2024, will stimulate the entire industry and attract more consumers. Ultimately, the metaverse’s great boom could wait the next decade…

Also Read: Is ChatGPT More Revolutionary Than The Metaverse? Bill Gates gives his opinion
Metaverse’s Biggest Challenge


In Davos, Meta’s chief product officer also spoke about the biggest challenge for companies involved in metaverses. According to him, it is interoperability. In concrete terms, the different digital worlds must be able to work together, such as the various services available on the Internet. As Cox points out, switching from an app like Instagram to Google Maps is really easy.

“I think the internet is a really good way to imagine the metaverse because parts of the internet are very functional with each other,” says Chris Cox.
To address the interoperability challenge, Meta has joined the Metaverse Standards Forum. This business coalition wants to develop the norms that will determine the future of the metaverse. These standards should enable brands to develop platforms that can operate in osmosis.

For example, users should be able to use a digital object purchased in a metaverse within another space in virtual reality. With this in mind Meta will rely on blockchain and NFTs. Thanks to the blockchain, all digital elements (clothes, avatars, locations, vehicles, etc.) can be transferred from one platform to another. In Meta’s dream metaverse, absolutely everything will be available as an NFT. To keep these digital goods, you need to go through Meta Pay, Meta’s digital wallet.

A long-term bet


To bring the metaverse to life, Meta has pumped over $20 billion Reality labs, the division dedicated to mixed reality, in the space of two years. Despite these massive investments, the division continues to lose money and run down the company’s reserves.

The financial situation of the metaverse branch is not about to improve. According to Mark Zuckerberg, the division will continue to lose money in 2023. Confident, the billionaire nevertheless ensures that the investments made will eventually pay off… when the general public finally shows an interest in the metaverse.

Source :

Business Insider
 
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