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- Last year in June, CEO Mark Zuckerberg announced Meta’s flagship metaverse app Horizon World
- According to the reports of The Wall Street Journal, the company is unable to reach its initial goals
- The shares of Meta have been affected badly and came down to 62% this year
On June 2021, Mark Zukerberg announced Meta’s flagship metaverse app, Horizon World. His Vision behind Horizon World was to create a platform where the users would be provided with features of avatars using which people can play games, interact with friends, and even attend events.
According to the latest report of The Wall Street Journal, Meta’s flagship metaverse app, horizon worlds, has been unable to reach the targeted audience. The company aimed to reach
500,000 monthly active users in the platform by the end of the year, but currently, it doesn’t seem to be happening because the figure shows that fewer than 200,000 users are currently active in the platform.
Reports of The Wall Street Journal also indicate that the main concern is that the users do not return to the platform again after one month, due to which the number of active users has continuously decreased since the spring. And because of all these reasons, Meta shares have been affected badly and have come down to 62% this year.
Last week at Meta’s connect conference, CEO Mark Zuckerberg recently disclosed that their new virtual device, Meta Quest Pro, is Meta’s new VR headset. According to the company, the headset will replace the user’s natural environment with their virtual reality content, and as per the reports, they will cost around $1,499
Last year facebook renamed Meta from Facebook, and Mark Zuckerberg said, “to reflect who we are and the future we hope to build, I am proud to share that our company is now Meta” the idea behind renaming was to let everyone know that now the company is taking initiatives of innovation beyond social media.
As per the reports of The wall street journal, Meta’s spokesperson told that the company will continue to make improvements to the Metaverse, which was always meant to be a multi-year project. The spokesperson was also asked about the announcement that meta did to release a web version of Horizons for mobile devices and the computer this year. Still, the spokesperson didn’t reveal any particular launch date for the web version.
Tim cook, the chief executive officer of Apple inc, said in the interview that there are no limits to the Metaverse and virtual reality. Still, according to him, augmented reality (AR) will be the future and become among the biggest technology.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
