Wednesday, February 8, 2023

Creating liberating content

Binance will ban international...

The largest cryptocurrency exchange in the world, Binance, said on Monday that it...

Is gold a good...

Due to its reputation as an inflation hedge, gold is one investment that...

Child Tax Credit 2023:...

The maximum Child Tax Credit per eligible child for 2023 is $2,000 for...

How California citizens can...

The unemployment rate in California is back to where it was before the...
HomeTechMetaverse set to...

Metaverse set to become as significant as smartphone today, says Meta executive

Despite significant losses inside its dedicated division, Metaverse executives remain optimistic regarding the Metaverse’s future.

Chris Cox, the chief product officer of the social network, is confident that in the next few years, the Metaverse will eclipse the significance of smartphones.

Metaverse Vs. Smartphones

As more and more firms from around the globe start there, it must be realized that the Metaverse is failing to attract the public. As evidence of this, Meta, the center of the Metaverse, has suffered massive losses.

In April 2022, we learned that Meta had lost a minimum of $3 billion. As a result of its substantial investments in the Metaverse’s Reality Labs. Additionally, note that these losses only affected the first quarter of 2022. In a single year, the deficit exceeds $10 billion.

Meta, who has unwavering faith in the ascent of the Metaverse, is unfazed by these setbacks. During a panel discussion at the Davos Economic Forum, Chris Cox, the chief product officer of the social network, projected that it will one day be as essential as smartphones.

Read more: Researchers create a robot that can smell, may help preserve human life

Game Developers Express Their Doubt

META-Metaverse-Technology-Smartphones-US News
Despite significant losses inside its dedicated division, Metaverse executives remain optimistic regarding the Metaverse’s future.

Recently, in preparation for the 2023 Game Developers Conference, the GDF surveyed 2,300 game industry professionals for its State of the Game Industry report.

When questioned about the likelihood of a corporation fulfilling its claims, developers were divided, with 45 percent feeling it was impossible. As of the previous year, only 33% of developers believed the promised Metaverse to be unfeasible.

Those who are doubtful about the viability of a cite “the ambiguous definition of the concept, the absence of considerable interactivity, and the expensive cost of hardware (VR headsets in particular)” as obstacles to its success. 

And they might not be mistaken. Horizon Worlds, which debuted in December 2021 and failed to attract gamers (according to The Wall Street Journal), highlighted how difficult it was to construct a Metaverse.

Also contentious was the topic of which corporation has the best possibility of delivering a viable Metaverse. The firm with the most votes, 14%, was Epic Games/Fortnite. This makes sense, considering “Fortnite” is a pseudo-Metaverse without VR. Within the game, Fortnite frequently holds concerts, minigames, and a battle between entertainment titans.

Read more: Germany to send German Leopard 2 tanks to Ukraine

Get notified whenever we post something new!

spot_img

Create a website from scratch

Just drag and drop elements in a page to get started with Newspaper Theme.

Continue reading

Binance will ban international US dollar withdrawals and deposits starting February 8

The largest cryptocurrency exchange in the world, Binance, said on Monday that it would stop accepting deposits and withdrawals in US dollars. The business gave no explanation for the move. The company's subsidiary Binance US, which is subject to regulation...

Is gold a good investment now? Consider this concerns before making a decision!

Due to its reputation as an inflation hedge, gold is one investment that is worth looking into. If you're thinking about increasing the amount of gold in your portfolio, historical data indicates that there may be particular months of the...

Child Tax Credit 2023: How much money you can receive, how to apply?

The maximum Child Tax Credit per eligible child for 2023 is $2,000 for kids under 5 and $3,000 for kids from 6 to 17. It is significant to note that the current tax season does not support the advance payment...

Enjoy exclusive access to all of our content

Get an online subscription and you can unlock any article you come across.