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Metas VR Platform Reports $3.7 Billion Loss, but CEO Stays Committed to Metaverse and AI

Metas VR Platform Reports $3.7 Billion Loss, but CEO Stays Committed to Metaverse and AI

Meta’s Efforts to Revive Horizon Worlds through New In-House VR Game StudioCopy

Meta, the struggling VR platform, reported losses of $3.7 billion in Q2 2023, but CEO Mark Zuckerberg remains committed to the metaverse and AI. In an interview with Lowpass, Meta’s metaverse VP Vishal Shah shared the company’s plans to reboot Horizon Worlds. Here are the key points:

- Meta is producing new first-party VR titles through its in-house studio, Ouro Interactive.
- The studio is utilizing new technological advancements to create more immersive experiences.
- Horizon Worlds aims to target mobile gamers by bringing the platform to app stores.
- The mobile version will act as a bridge for non-VR users, shifting towards a “VR first” approach.
- Horizon Worlds has focused on supporting complex games and investing in generative AI tools.

Despite the losses, Meta remains committed to AI and the metaverse. Zuckerberg stated that Horizon is focused on retention and improving avatars. While other companies scale back metaverse projects, Meta is renewing its efforts.

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Hot TakeCopy

Meta’s decision to invest in a new in-house VR game studio and target mobile gamers shows their determination to revive Horizon Worlds and broaden its user base. By utilizing new technologies and focusing on immersive experiences, Meta aims to bring more people into the metaverse. While the company has faced significant losses, their commitment to AI and the metaverse reflects a long-term vision. As other companies retreat from metaverse projects, Meta’s renewed interest could position them as a leader in the VR space.

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Metas VR Platform Reports $3.7 Billion Loss, but CEO Stays Committed to Metaverse and AI