meta platform (meta – free report) is well on its way to realizing the Metaverse. At Meta Connect, Mark Zuckerberg announced the launch of his Meta Quest Pro, his first high-end virtual reality (VR) headset to tackle that ambition.
Meta previously announced that it will spend over $3 billion on VR over the next decade. The company has invested heavily in developing his VR content ecosystem and hopes this will bring him a positive ROI for the company in the long run. As such, the latest VR headset launch is in line with our long-term plan to build out the metaverse.
The newly launched VR headset will start shipping on October 25th and will cost $1,499.99. In addition to the headset, users are also provided with a Meta Touch Pro controller, stylus tip, partial optoisolator and charging dock.
Microsoft Chairman and CEO Satya Nadella joined Mark Zuckerberg at the Meta Connect event to announce the new partnership. This will bring new work and productivity tools to next year’s Meta Quest Pro and Meta Quest 2. This includes apps like Microsoft Windows 365 and Microsoft Teams, and the ability to join Teams meetings from within Meta Horizons Workrooms.
However, one of the key enablers of the Metaverse is artificial intelligence (AI). At the Meta Connect event, META’s Reality Labs team, which is working to build the Metaverse, unveiled how they are using AI and electromyography to create more intuitive, human-centric interfaces and new features for the Metaverse. .
Meta plans to spend over $3 billion on VR over the next decade. The company has invested heavily in developing its VR content ecosystem and hopes this will bring him a positive ROI for the company in the long run.
AI meta-banking to boost the top line
Meta is currently facing its worst recession in history due to global macroeconomic conditions, geopolitical tensions, rising inflation and interest rate hikes by the Federal Reserve. This negatively impacted Meta’s stock price.
Currently, the #5 Zacks-ranked (strong sell) stock is down 61.8% year-to-date compared to Zacks. Internet – software Industry decline of 57.6%.
Meta’s financial plans to generate sufficient operating income from its Family of Apps business segment to fund the growth of Reality Labs have taken a major hit. The company has recently closed various long-term projects that are burning a lot of cash.
In September, Meta announced the cancellation of Novi, a cryptocurrency wallet pilot project. This is a major setback in the company’s efforts to develop the Metaverse as an independent commercial platform as both the crypto market and his NFT market have collapsed.
Snap has benefited from improved user engagement, especially among 13-34 year olds as it expands its advertiser base. SNAP also competes with META in the metaverse space. The collaboration with Vogue will feature a virtual try-on experience of curated pieces from Balenciaga, Dior and Gucci and will be available on Snapchat worldwide.
While Meta is actively investing in building the Metaverse, Twitter has positioned it as the first social media giant to enter the non-fungible token market by launching a tool to showcase and sell NFTs on its platform. surpassed
While Meta’s near-term earnings growth looks sluggish, the company is confident in its long-term prospects. The company is investing heavily in AI development, which will drive revenue growth for its advertising business.
Reels are the hottest trend right now and feeds are increasingly being recommended by AI. This will allow Meta to evolve its advertising system to allow creators to monetize through her Facebook and Instagram, creating new advertising revenue for the company.
This will provide funding to build the metaverse and help companies generate positive returns from their AI investments.