Meta is ending its Metaverse project, in which it invested $80,000,000,000.00
This all goes back a bit to the era of NFT, virtual reality, when, during COVID, we went to virtual events, had VR glasses and promised ourselves that we would spend more time in some digital parallel reality online.
Well. So Facebook, with a growing portfolio and a new vision, renamed itself Meta.
That it would be the Metaverse.
After about 5 years and $80B invested, they wrapped it up.
And now I'm wondering, do smart glasses matter when one of their main selling points was the Metaverse, which failed? [now thinking whether, due to this, also other smart glasses will suffer as there is no current future for that metaverse vision]
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The NFT craze and Metaverse was possibly one of the most astounding phases in crypto/virtual tech. Both markets have evaporated, but I remember a time when NFTs were getting sold for millions. What a time!
The wow factor of VR wears off. One thought I always go back to is that people generally don't like wearing glasses. Unless you need them to see or block the sun, there had better be a big advantage to having something resting on your face all day.