

This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. In the second quarter of this year, the company posted a $2.8 billion loss on the division, 15% higher than its loss in the same quarter in 2021. Last year the company poured $10 billion into its metaverse division Reality Labs. Zuckerberg’s Meta also has high aspirations for the future of the metaverse. Whatever the true definition, some banks including Citi and Morgan Stanley, put the future value of the so-called metaverse at between $8 trillion and $13 trillion as people begin spending more time in virtual worlds. While some believe that a true virtual world must incorporate Web3 technologies like crypto and NFTs, others say that any video game with a navigable world, like Microsoft’s Minecraft, is considered a metaverse.

Major hype, fueled in part by Facebook’s rebrand to Meta, fueled a rush for investors and major companies such as Adidas, Samsung, and JPMorgan Chase to buy land in the metaverse.īut the definition of the metaverse remains hazy.
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The metaverse, a series of digital worlds where players can hang out with friends, play games, and shop, was one of the biggest buzzwords of 2021. “The graphics in Horizon are capable of much more-even on headsets-and Horizon is improving very quickly,” he said in the post. In the same post, Zuckerberg also included a picture of digitally rendered ancient ruins, presumably from his metaverse platform, and said the graphics in his virtual world are not as basic as his first selfie was. Albeit the second iteration looked more like him and lacked the seemingly dead eyes of his previous selfie. Instead of a backdrop of illogically proximate monuments, his new “selfie” was taken in front of a gray background. In the post, the billionaire admitted that his first selfie was “pretty basic,” but said that it was taken “very quickly to celebrate a launch.” This weekend, Zuckerberg responded to his critics with a new and improved selfie of his avatar that he posted on Facebook and Instagram.
