All articles tagged with #metaverse
Meta’s Reality Labs has posted over $80 billion in losses, but not all of that is from the metaverse—hardware like Quest headsets and Ray-Ban AI glasses account for much of the spending. Reality Labs will continue operating and burning money as Meta reframes its strategy: the metaverse isn’t dead, just evolving beyond headsets, while Zuckerberg shifts attention to AI and datacenters to build a more self-owned platform.
Meta has reversed an earlier plan to retire Horizon Worlds on VR, announcing that it will keep VR support for existing Horizon Worlds games and the Unity runtime, while not funding new VR Horizon Worlds titles and continuing its pivot toward mobile, AR, and AI amid Reality Labs losses and declining Quest headset sales.
Meta has reversed its plan to shut down Horizon Worlds in VR, saying it will keep the Horizon Worlds VR app running for the foreseeable future to support existing games, while continuing to invest in two more generations of VR headsets and broadly framing the metaverse beyond VR.
Creative Bloq argues Meta’s 2021 pivot to the metaverse and rebrand has backfired, with Horizon Worlds being shut down and Realty Labs layoffs signaling a retreat from the plan, underscoring how hindsight paints the branding as misguided amid a fading of the metaverse vision.
Meta says Horizon Worlds will become a mobile-only experience, removing it from the Quest Store on March 31; users who already have the app can continue to use it until June 15, after which Horizon Worlds on Quest will be sunsetted and limited to a mobile experience (with the legs feature accessible on mobile).
Meta is laying off about 1,500 Reality Labs employees (roughly 10% of the division) and shuttering three VR game studios as it pivots away from the metaverse toward AI wearables; Horizon Worlds remains but scaled back, while the company’s broader metaverse losses and ongoing AI glasses production questions frame the shift.
Meta is cutting jobs as it shifts focus away from metaverse investments toward AI devices, signaling a major restructuring to prioritize AI initiatives in hardware and software.
Meta is cutting about 10% of its Reality Labs division, shuttering three VR studios—Twisted Pixel Games (Marvel’s Deadpool VR), Sanzaru Games (Asgard’s Wrath), and Armature Studio (Resident Evil 4 VR port)—and halting new content for the Supernatural app; Bloomberg reports and The Verge confirms the closures as part of shifting investment from the metaverse toward wearables, with staff layoffs and prior acquisitions noted.
Meta plans to lay off around 10% of its Reality Labs staff this week, with most cuts in the metaverse division, as the company pivots toward AI. CTO Andrew Bosworth has called an in-person meeting billed as the year’s most important, following earlier reports of metaverse budget cuts and a broader shift to AI.
Meta Platforms is cutting more than 1,000 jobs from its Reality Labs division to redirect resources from metaverse/VR toward AI wearables and smartphone features, with Horizon refocused on mobile, ongoing VR investments pared back, and several in-house VR studios slated to close.
Meta's CTO Andrew Bosworth is calling the most important all-hands meeting of the year for Reality Labs, urging in-person attendance amid ongoing financial losses and strategic shifts towards AI, following significant cuts and a focus away from the metaverse.
Investors are wary as Meta continues to invest heavily in AI, reminiscent of past concerns about the metaverse, highlighting ongoing uncertainties in tech investments.
Mark Zuckerberg has appointed a former metaverse executive to enhance Facebook's AI initiatives, signaling a strategic shift towards strengthening AI capabilities within the company.
Xbox president Matt Booty stated that the company's biggest competition is now everything from TikTok to movies, rather than other consoles, as they aim to meet players where they are by moving away from console exclusivity, exemplified by Halo's upcoming release on PS5 and other platforms.
Bored Ape Yacht Club is making a comeback as a metaverse called Otherside, which aims to be an ambitious, interoperable, and gamified virtual world where NFTs serve as avatars, set to launch on November 12th after initial alpha testing and significant funding.