Meta has invested billions into its Metaverse project, a venture that could either significantly elevate or challenge the company.
Mark Zuckerberg, the founder and CEO of Facebook, is well-known for his fascination with the Metaverse. This enthusiasm led him to rebrand his parent company as Meta, a move reflecting his unwavering confidence in this technology, despite a challenging 2022.
Heading into the new year, Meta intends to maintain its focus on Metaverse projects. To this end, the company has allocated a substantial 20% of its total budget to Reality Labs, the division responsible for these initiatives.
This allocation represents a notably large investment. Furthermore, the continued support for this department, which reported a nearly $10 billion loss in 2022, by Zuckerberg, has sparked opinions suggesting that the Metaverse could either be a make-or-break venture for Meta.
Metaverse will be the end of Facebook!
It’s a known fact that among the tech giants, Meta has invested in the Metaverse more than any other company.
In fact, the collective investments of all other tech giants combined still don’t match the scale of Meta’s commitment to the Metaverse. Should the project succeed and humanity’s future become intertwined with the Metaverse universe, Meta stands to gain the most.
However, for this to happen, Meta needs to sustain itself long enough to see those days. The company, which lost 700 billion dollars in value in just 16 months, is facing increasing challenges.
If this downward trend continues, it might become unsustainable for Meta to keep supporting the Metaverse project at its current level.
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