“The Metaverse is the future.” This phrase is often used in the cryptocurrency industry. had in recent months The metaverse has become a hot topic for large companies.. Governments around the world have invested in this space. Therefore, it is not surprising that Meta [anciennement Facebook] decided to take this space. What might seem more surprising is that the Metaverse division has been posting losses for seven consecutive quarters.
reality laboratories, virtual reality and the division of the metaverse the companies led by Mark Zuckerberg have suffered Losses $ 2.8 billion.. He announced this during a Meta conference call for the second quarter of 2022. Reality Labs revenue was $ 452 million. It should be noted that this division has increased Profit for the first quarter was $ 695 million.
As you can see in the image above, the total revenue for the second quarter was 2022. $ 28.82 billion. Furthermore, the global economy is experiencing more than worse conditions this year, which could also explain this situation.
Despite this fall, Mark Zuckerberg, the company’s CEO, has maintained his position. very positive about the metaverse. During the conversation, Zuckerberg hinted that cthe losses were not unexpected and which will last for several years. She also insured it Metaverse becomes mainstream and mature.
Mark Zuckerberg, CEO of Facebook (Meta), says #metaverse is a huge opportunity that will unlock hundreds of billions of dollars, if not trillions, over time.
– Watcher.Guru (@WatcherGuru) July 28, 2022
This is, of course, a very expensive undertaking for the next few years. I am convinced that we will gladly play an important role in the construction.
It seems the whole world is fighting for the Metaverse. South Korea, Dubai and Japan appear to be leading this race at the moment. However, Zuckerberg thinks so“Apple could be an important addition to Meta. He believes the two companies are in a state of “very serious philosophical rivalry”.
Zuckerberg also told his employees
This is a competition of philosophies and ideas, in which they believe that by creating everything by themselves and integrating within, they create the best experience for the consumer. And we believe that when it comes to specialization, there are a lot of similarities between the different companies and [que] This allows for a much larger ecosystem to exist.
Apple would work on both models Virtual reality and augmented reality. However, Zuckerberg believes that the future of the Metaverse is not written here. Consequentially Research appears to be a priority for Meta right now.
A rapidly growing sector of the crypto ecosystem
This strong metaverse trend has been observed in the cryptocurrency space since late last year. The popularity of projects like Decentraland and The Sandbox has skyrocketed after the announcement of the name change from Facebook to Meta last November. Decentraland and The Sandbox are respectively 35th and 36th in terms of capitalization of the cryptocurrency sector. Both metaverses assert themselves growing number of users and attract more and more companies e brands and international partners.
Metaverse of the yacht club of the bored monkeys, Other side, is also a prime example. This project has been hugely successful since its launch, starting with the l.and Apecoin is currently in 31st place by capitalization market according to CoinMarketCap.
If this sector, like the entire cryptocurrency market, suffers from the current more than deteriorating conditions, II continue to develop. Many projects go on a metaverse adventure like Battle Infinity that we talked about earlier.
This trend is likely accelerate in the coming years with the coming large tech companies as well as giants of the world economy. The next few years could be a metaverse and it will be interesting to see how this sector develops, especially in the crypto ecosystem.
For more information on investing in a better metaverse, check out our article here.