Where he proudly announced his Metaverse last year, Meta now has to admit that he will be spending less money to build his Metaverse. Initially, 10,000 million dollars (9,400 million euros) per year were allocated for development, but it will not be able to achieve it in 2022. Due to ‘the situation of the company’, it was decided to invest 3,000 million dollars (2,800 million euros) less in the project.
When the quarterly figures were announced, there was an explanation discussing the Metaverse somewhat less true. “These investments are important to our success and future growth, so I am still convinced that we must make them. However, with the growth we are showing now, we want to slow down the pace of investment.”
It’s a shocking statement, because words like ‘yet’ make it sound very uncertain. At the same time, while Facebook is showing growth in its daily users, its ad revenue is lagging behind. Therefore, there is a little less financial margin in that area. Therefore, he has chosen to let the financial engine behind his biggest project, the Metaverse, simmer a little less.
Meta must be careful not to be overtaken by other metaverses, which is already underway. Some popular metaverses are Sandbox and Decentraland. Sandbox includes a great Snoop Dogg section. The rapper is building his own Snoopverse there and in his new video clip we can prove it:
There is also a lot of investment in the metaverse by people who don’t develop metaverses themselves. The Metaverse Group is an example of such an investor. The organization has large tracts of land (over $10 million in total) within various metaverses and acts as a kind of landlord for people who want to buy that land. However, it also employs developers who can build things on land, if the client wishes.
Decentraland and Sandbox
One of the metaverses in which the Metaverse Group has invested is Decentraland, in which it has also organized events such as the latest virtual Fashion Week. Another big metaverse that the Group has invested in is Sandbox, a metaverse that is now popular, among other things, because Snoop Dogg builds his aforementioned Snoopverse there. There’s a lot of land for sale in those metaverses. There are up to 90,000 lots in Decentraland, divided into districts. Think of the sports district and the fashion district.
Ultimately, all of those metaverses aren’t meant to be isolated places where only a handful of people can have fun. The idea is correct that people will soon enter these various metaverses in great numbers with augmented reality glasses, as we do now, for example, with the Chrome browser or Instagram. It should soon be just as obvious to take a look at a metaverse.
Metaverse: Scam or Success?
The world is pretty divided when it comes to the metaverse. Some find virtual real estate to be primarily a risky way to invest in their crypto, others even call it a scam. At the same time, there are large and established companies that are investing heavily in it: they clearly think differently. Meta is also one of those companies that invests heavily and can see for itself that soon we will all be sitting at the breakfast table with AR goggles reading our latest metaverse posts.
Therefore, it is a pity that he has now decided to invest less in this new technology. Especially Meta has a chance to succeed. Although they don’t envision a Metaverse as decentralized as, say, a Sandbox or a Decentraland, they do have the means in the form of money and in the form of a VR headset company (Oculus) to turn it into a spectacle.
Others may have been ahead of them now. The fact that a rapper like Snoop Dogg starts his own metaverse Snoopverse, sells NFT like hot cakes and also has his own crypto currency and that rappers like Eminem and celebrities like Kwebbelkop buy crypto monkeys (of which a metaverse will follow soon), says that Meta has to hurry up. He is no longer the first, but that means that he at least must be one of the best. And that requires investment. Let’s hope Mark Zuckerberg and company see it in time.
When he’s not writing, he’s traveling through the wonderful world of entertainment or somewhere interesting in the real world. Mario is the man of his life, …