Central bank digital currencies (CBDCs) are not the only novelties that have attracted governments around the world. There is also the metaverse technology that has attracted authorities and many companies. Among these companies, we can mention Meta (formerly Facebook). Although the virtual reality branch of the company has recorded losses in the last 7 quarters, the CEO of Meta, Mark Zuckerberg considers that “the metaverse is the future”.
A normal drop in turnover
Led by Mark Zuckerberg (MZ), Meta has a virtual reality division responsible for studying the opportunities that the company could seize in the field of the metaverse. However, despite the passion that the company presents for the sector, not everything is rosy for her.
The proof is that on the occasion of Meta’s earnings conference call for the second quarter of 2022, its revenue amounted to $452 million. However, its total income in the second quarter of 2022 increased to $28.82 billion.
Despite the decline in the turnover of the company in charge of the metaverse, MZ remains positive about this sector. He suggested that the losses recorded were not surprising and that he expects them to continue for several more years. According to him, they will cease only when the metaverse becomes a mature sector. He added : “This is obviously a very expensive business over the next few years. I am convinced that we will be happy to have played an important role in its construction”.
Currently, the metaverse is of interest to many countries. This is the case of South Korea, Dubai or Japan. These three countries seem to be at the top of the ranking of countries that are trying to innovate in the field. However, according to MZ, Apple could be an important complement to give more weight to the development of the metaverse, regardless of governments. He also believes that Meta and Apple are two companies in “a very deep philosophical competition”.
The CEO of Meta claimed : “It is a competition of philosophies and ideas, where they [les dirigeants de Apple, NDLR] believe that by doing everything themselves and integrating closely, they build a better experience for the consumer. And we think there is a lot to be done in the specialization between different companies, and [que] this will allow a much wider ecosystem to exist”.
At the moment, Apple has reportedly been working on virtual reality and augmented reality models. But MZ believes that the company is not yet fully ready for the metaverse.
While the virtual reality branch of Meta has recorded heavy losses in recent months, its CEO, Mark Zuckerberg continues to trust the metaverse. He believes that the development of the sector in the coming years will make it possible to compensate for the losses that his company is currently recording.
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Behind the generic signature “Editorial CT” are young journalists and authors with special profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.