UpdatesAug 29, 2022

Mark Zuckerberg continues to invest in the metaverse

The CEO of Meta is fully aware that trying to enter Web3 will be a very costly endeavor.

Mark Zuckerberg does not intend to abandon his investment in the metaworld, despite the fact that so far it has brought him a loss for the seventh consecutive quarter. While maintaining the Virtual Reality (VR) and metaverse - Reality Labs departments is expensive, the former Facebook CEO adamantly believes in this technology, stating that it is a great opportunity for his company and all mankind.

Mark Zuckerberg consistently continues to invest in the metaverse

The CEO of Meta, which controls the largest social media platforms in the world, believes that entering the metawiverse will ensure a bright future for it. While departments focused on building the ecosystem around this technology are currently only delivering losses to this conglomerate, Mark Zuckerberg assures that this will change in the future when the market matures enough.

According to the president of the former Facebook, adoption may take up to several years. So he is mentally prepared for further losses. So far, his company has experienced them with metaverse investments for the seventh consecutive quarter.

According to this American entrepreneur, the metawiverse is a tremendous opportunity for many reasons. He claims, among other things, that the development of platforms and projects focused on it will bring huge returns over time. In his opinion, this is an opportunity worth a lot of money and will be the future of Meta.

“The project will obviously be costly in the next few years. However, I am convinced that we will be pleased that we played an important role in its construction '' - emphasized Mark Zuckerberg.

Reality Labs' extended operating loss period was also disclosed in the Meta Q2 2022 performance report. So they are not unusual in the research and development phase.