This future, the metaverse, is simply a third-dimensional version of the internet we know today. Various big tech firms are pumping billions into the development of this version of the internet. But the past few months have been rough for Meta in its quest to build its version of the metaverse. After setting up Reality Labs, Meta has had to face some major setbacks. One such is enduring the loss of over $9.4 billion in its research process. But, despite this loss, the firm is making plans to push harder to accomplish its dream of the metaverse.
Meta will utilize the Reality Labs expenses to develop AR technology for the Metaverse
While acknowledging the challenges it faced within the year, Meta’s Reality Lab plans big for the future. Its innovative nature hasn’t dwindled in the face of challenges. To further drive innovation, Meta will use half of its revenue for the Reality Lab to develop AR technology. Already, the company has made some advancements in its AR technology this year. The new Meta Quest Pro is evidence of this technological advancement. But the company is still years away from developing the perfect AR glass all-rounder. By channeling half of the Reality Labs funds to the development of AR technology, Meta might just beat the competition. Already companies like HTC, Apple, Google, and a few others are making similar advancements in developing the metaverse. Currently, Meta is leading this race but needs constant innovation to maintain its place. Meta’s actual dream for the metaverse is still in its development stage and will not come anytime soon. For now, the company aims to develop its community in the metaverse with new features. Also, the company plans to launch the successor to the Meta Quest 2 by next year. With this launch, it will be clear the level of progress Meta is making with the development of AR technology for the metaverse.
