Meta, the technology behemoth behind platforms such as Facebook, Instagram, and WhatsApp, has been dedicating significant resources to metaverse development for some time. However, the cryptocurrency downturn in 2022 resulted in substantial financial losses for the company.
Despite reporting billions in losses each quarter, Meta has consistently communicated its commitment to persist with its metaverse initiatives.
Reports suggest that the software engineers and developers working on Meta’s metaverse projects are compensated with impressively high salaries, reflecting the value the company places on their contributions to this cutting-edge venture.
Meta’s metaverse developer salaries are astonishing
A recent report by the Wall Street Journal reveals that developers working on Meta’s virtual reality programs can command salaries ranging from $600,000 to nearly $1 million.
Reality Labs, the division of the company tasked with developing the metaverse, incurred a loss of $13.7 billion in 2022 alone, marking the largest annual loss recorded for the department.
Despite these financial setbacks, Mark Zuckerberg, co-founder and CEO of Meta, has affirmed the company’s unwavering commitment to its metaverse vision.
Meta, a major player in the metaverse market, faced legal action last year when the US Federal Trade Commission sued the company over its attempts to dominate a significant portion of the metaverse industry.
Additionally, two US Senators recently sent a letter to Zuckerberg, urging that minors be prohibited from accessing Meta’s metaverse platform, Horizon Worlds. The letter highlighted serious concerns about the platform, labeling it as a digital environment laden with potential dangers.
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