opportunity of the century according to Mark Zuckerberg

Central Bank Digital Currencies (CBDCs) aren’t the only innovations that have caught on with governments around the world. There is also a metaversion technology that has attracted the authorities and many companies. Among these companies, we can mention Meta (formerly Facebook). Although the company’s virtual reality business has posted losses for the past 7 quarters, Meta CEO Mark Zuckerberg believes that “the metaverse is the future”.

Normal decline in turnover

Direction Mark Zuckerberg (MZ), Meta has a virtual reality division that is in charge of studying the opportunities that the company could exploit in the field of metaspace. However, despite the company’s passion for the sector, everything is not rosy for her.

The proof is that on Meta’s Q2 2022 earnings conference call, its revenue was $452 million. However, its total sales in the second quarter of 2022 increased to $28.82 billion.

Despite the decline in the turnover of the company responsible for the metaverse, MZ remains positive about the sector. He indicated that the losses recorded were not surprising and expected them to continue for several years. According to him, they will only stop when the metaversion becomes a advanced sector. Added by: “It’s obviously a very expensive undertaking over the next few years. I am confident that we will be glad to have played an important role in its construction.”

Currently, the meta version is interesting for many countries. This is the case in South Korea, Dubai or even Japan. These three countries also seem to be at the top of the list of countries trying to innovate in the industry. However, according to the Ministry of Health Apple could be an important addition Meta to give more weight to the development of a meta version independent of governments. He also believes that Meta and Apple are two companies “a very deep philosophical contest”.

The CEO of Meta said: “It’s a competition of philosophies and ideas where they are [les dirigeants de Apple, NDLR] they believe that by doing everything themselves and integrating closely, they create a better experience for consumers. And we think there is a lot to be done in specialization between different companies [que] this will allow for a much larger ecosystem to exist”.

Currently, Apple is said to be working on virtual reality and augmented reality models. But MZ believes that society is not yet fully ready for the metaverse.

While virtual reality Meta branch has seen heavy losses in recent months, its CEO Mark Zuckerberg continues to trust the metaverse. He thinks that the development of the sector in the coming years will make it possible to compensate for the losses that his company is currently recording.

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Behind the general signature “Redaction CT” are young journalists and authors with specific profiles who wish to remain anonymous because they are involved in an ecosystem with certain obligations.

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