June 24, 2022
A Meta Platforms-built operating system could be in the offing as CEO Mark Zuckerberg forecasts the metaverse to be a major part of the tech giant’s business this decade.
Zuckerberg remains open to the idea of having an operating system for his company’s numerous platforms and hardware to create the metaverse, an immersive virtual reality, and for it to function optimally.
“I think over the long term, we will need this level of integration between hardware and software and an operating system, just to deliver on what we want to build,” Zuckerberg stated.
The metaverse author added that by the end of this decade, he projects 1 billion users of the metaverse, each spending “hundreds of dollars” a year on products such as virtual goods for spaces and avatars. He also expressed enthusiasm that the metaverse will generate hundreds of billions of dollars in revenue by the end of the decade.
Meanwhile, Reality Labs, the metaverse division at Meta, is presently a venture that is on the red revenue-wise. It lost under $3 billion in the first quarter, after losing $10 billion last year. Because of the division’s tepid market performance, Zuckerberg said he was planning to “slow the pace” of new investments.
Still, Zuckerberg expects the metaverse to be at the forefront and be a sizable part of its business in the future.
For more information, read the original story in Business Insider.
