Meta’s failure is a success

Enormous losses but establishment of association.

July 31, 2023

Jon Peddie

Meta’s Reality Labs has incurred losses of $21 billion in approximately 18 months. Despite this, Mark Zuckerberg remains committed to the metaverse, with virtual reality and metaverse ventures proving financially challenging for Meta. The association of Meta with the metaverse through a name change garnered attention, leading to the concept’s explosion across the Web. However, the metaverse is more than just VR gaming, and Meta’s emphasis on VR-verse has caused some tarnish. Meta is now revamping its Horizon Worlds metaverse platform, aiming to reach mobile gamers globally via app stores with cross-platform play. Yet, doubts persist about the metaverse’s future

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Meta’s failure is a success

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