Meta Platforms, the parent company of Facebook, rebranded itself in 2021 to reflect its vision of becoming a Metaverse company. However, Reality Labs, the division responsible for the Metaverse, has generated less than 1% of the total revenue in the past three years. This indicates that the global market for the virtual world has not yet reached mainstream users in a social media business context.
According to The Wall Street Journal, senior executives at Meta now believe that the introduction of Apple Vision Pro will help expand the reach of the virtual world to a wider customer base. They position their company similarly to Android in the smartphone market.
As a result, Meta has started presenting plans to developers to encourage collaboration and the development of more apps on their platform. This reflects the opportunity presented by Apple Vision Pro. However, the challenge lies in the control process, as Vision Pro tracks users’ eye movements, while Meta’s Quest still primarily relies on controller-based controls.
Previously, Apple executives had a different perspective on the term “Metaverse” compared to Meta. For example, Greg Joswiak, the head of Apple’s marketing, stated that they would not use this term. Even during the presentation of Vision Pro, Apple did not mention the term “Metaverse” at all.
TLDR: Meta Platforms, which owns Facebook, is focusing on becoming a Metaverse company, but its current revenue from the Metaverse division is less than 1% of the total. They see Apple Vision Pro as an opportunity to reach a broader user base and are presenting plans to developers for increased collaboration. However, the challenge lies in the control process, as Apple’s Vision Pro tracks eye movements, while Meta’s Quest primarily relies on controller-based controls. There is a difference in perspective between Apple and Meta regarding the term “Metaverse.”
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