Meta Shares New Details About Its Metaverse Investments Including Major Upcoming Plans

Today, Meta went public with details regarding its metaverse investments with some major disclosure of plans for the upcoming year.

Details were put forward regarding the launch of a new and exclusive version of the Oculus Rift 2 VR headset. This would be launched by next year, the company confirmed.

Meta was also seen putting forward the new Oculus Line for its VR headsets in the year 2014 via a $2 billion startup acquisition planned for 2023.

This new line of VR headsets had been put forward in the year 2014 via a $2 billion startup plan. And ever since that period, the tech giant has also introduced a few exciting VR devices around the market.

In case you are wondering why so much stress is placed on The Oculus Line of devices, well, that’s because it’s a pivotal component of the firm’s plan to create the metaverse. And as envisioned as a part of the future of the web, this would entail setting forth VR and AR elements.

The tech giant’s efforts regarding the metaverse are linked to its Reality Labs division. And the firm’s CTO and head for this department outlined recently how the firm is really investing big time on things like VR and other start-up plans for the metaverse where 20% of funds are getting allocated for this same reason. On the other hand, the rest of the 80% is going toward the likes of the company’s main ad business.

Meta adds how this is a form of investment that it feels would make the firm committed to staying at the edge of the most competitive industries out there today. As mentioned in a recent blog post that became published today, Mete really hopes to scale back on spending in certain places.

Meta’s really having a tough time right now because of its cord ad business. This would limit how much the firm invests in things like VR and other places. Just last quarter, the company’s reality labs department set forth the awful news of a $3 billion loss regarding revenue worth $285.

And then in the likes of October, the firm announced how it expected the division that’s dealing with such losses to take the next level by 2023. Meta adds in a statement during that time how after 2023, we might be expecting to see Reality Lab investments that could achieve goals regarding the overall growth of the firm and enhance the income in the future.

So where does all the investment go? The head of the Reality Labs Division claims it’s mostly going toward covering costs linked to AR glasses.

Meta hopes to set forward two AR devices by the year 2024. And during that time, they hope to ship millions of AR devices by this decade’s end.

Soon, Meta is making plans for putting forward a successor to one of its most loved and sought-after products which is a successor to Oculus Rift 2. And that is loved by users around the world. This launch is expected to take place in 2023 so stay tuned.

Read next: New Study Proves Consumers Are Ready To Embrace The Metaverse But Have Concerns
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