Meta compares the metaverse to the smartphone revolution

Meta continues to believe in the future of the Metaverse. According to the Californian giant, the emergence of virtual and augmented reality worlds is comparable to the smartphone revolution. To convince users, however, metaverses may face a major hurdle, Meta admits.

At the World Economic Forum in Davos, Chris Cox, Chief Product Officer of Meta, spoke about the evolution of the metaverse, reports Business Insider. According to the framework, Meta has developed a wide range of virtual reality products over the past eight years.

These devices are intended as accessible and affordable as possible for users, says Chris Cox. The Quest 2 headset, released in 2020, has established itself as the best-selling VR headset in the world. On the strength of this success, Meta gained his freedom review the helmet price above last summer, going from 349 euros to 449 euros.

This offering of VR accessories has yet to allow the metaverse to take off. According to CCS Insight, sales of virtual and augmented reality headsets even fell last year. Likewise, Worlds of the Horizonthe metaverse developed by Meta, is not failed to attract as many users as expected. With its simple graphics, it also evokes the ridicule of Internet users.

Metaverse and smartphone, an impossible comparison?

Despite the lack of love shown by the general public, Chris Cox remains confident. Mirroring Mark Zuckerberg, he predicts a bright future for the metaverse. The manager does not hesitate to compare the rise of the metaverse to the advent of the smartphoneinitiated by Apple with the iPhone in 2007:

“One day, this computing platform will be as important as the smartphone has become in our lives”.

According to Statisticsmore than 6.5 billion people in the world have a smartphone, ie. 83% of the population. By comparison, only 74 million people currently have access to a virtual reality headset, notes the German portal:

“While the global user base of VR/AR devices is set to double in the next two years, Statista analysts estimate it will remain below 250 million people by 2027, a tiny fraction of humanity.”

Statista’s Predictions for VR/AR Headset Adoption

Before it becomes as essential as the smartphone has become, the metaverse still has a place. Like Statista, CCS Insight analysts believe so augmented reality glasses, expected to flood the market from 2024, will stimulate the entire industry and attract more consumers. After all, the big metaverse boom can wait for the next decade…

Read also: Is ChatGPT more revolutionary than metaverse? Bill Gates gives his opinion

The Metaverse’s Biggest Challenge

At Davos, Meta’s chief product officer also spoke about the biggest challenge facing companies involved in the metaverse. According to him, it is INTEROPERABILITY. In concrete terms, the different digital worlds must be able to work together, like the different services available on the Internet. As Cox points out, it’s very easy to switch from an app like Instagram to Google Maps.

“I think the Internet is a really good way to imagine the metaverse, because parts of the Internet are very functional with each other.” says Chris Cox.

To meet the challenge of interoperability, Meta has joined Metaverse Standards Forum. This business coalition aims to develop the standards that will govern the future of the metaverse. These standards should allow brands to develop platforms capable of operating on osmosis.

For example, users should be able to use a digital object purchased in a metaverse within another space in virtual reality. With that in mind, Meta will be supported blockchain and NFT. Thanks to the blockchain, all digital elements (clothes, avatars, locations, vehicles, etc.) can be transferred from one platform to another. In Meta’s dream metaverse, absolutely everything will be available as an NFT. To keep these digital assets, you will have to switch Meta Pay, Meta’s digital wallet.

A long-term bet

To bring the metaverse to life, Meta has invested over 20 billion dollars Reality Labs, the division dedicated to mixed reality, in the span of two years. Despite these large investments, The division continues to lose moneyand cut the company’s reserves.

The financial situation of the metaverse branch is not going to improve. According to Mark Zuckerberg, the division will continue to lose money in 2023. Confident, however, the billionaire assures that the investments made will eventually pay off… when the general public finally takes an interest in the metaverse.


Business Insider

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