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- 1 Vision Pro is too expensive for the average consumer as of now.
- 2 The term metaverse was initially used in the 1992 novel authored by Neal Stephenson called Snow Crash.
Meta Platforms (formerly Facebook) is going to win the race to be the leader in the metaverse against their rivals Apple. In a way, they have already won it as the iPhone bearer is focused on spatial computing. They did not even use the term metaverse to address any of the features relating to their upcoming head-mounted display (HMD) Vision Pro.
Apple Could Revolutionize The Metaverse
Even if it looks like Apple is steering clear of the metaverse, they could revolutionize it. Because, the concept had moved beyond the initial concept of a simulated digital environment. Moreover, technologies associated with it have been extended. It was just virtual reality (VR) and augmented reality (AR) initially, then came mixed reality (MR) which merges the real world as well as digital reality. Now, all of them have an umbrella term—extended reality.
The term metaverse was initially used in the 1992 novel authored by Neal Stephenson called Snow Crash. Then again, it was used by Ernest Cline, another author, in his book Ready Player One, which was then adapted in a movie directed by Steven Spielberg. Although it dealt with both the virtual and real world, it was focused on VR.
Vision Pro is too expensive for the average consumer – the company has labeled it with a price tag of $3,499. Institutions working with spatial computing concepts or affluent individuals and families are likely to get their hands on the device initially.
Quest 3, on the other hand, is relatively affordable. Meta Platforms is selling the device for $499 but features might not match Apple’s level. The social media giant also says that this is currently the most powerful device in the Quest series. They launched it just before Apple revealed Vision Pro during the WorldWide Developer Conference (WWDC23). Notably, forecasts associated with both devices weren’t positive.
Ming-Chi Kuo, a supply chain analyst, claimed a few days before Quest 3’s launch that Meta Platforms will sell less than the original forecast. They were set to sell 7 Million devices but declined to 2.5 Million. Its predecessor, Meta Quest 2 became the first mainstream headset with over 20 Million devices sold.
According to Kuo’s latest forecast for Apple Vision Pro, the company is likely to produce only 400,000 units in 2024. For the initial release in February, Apple may only put up to 80,000 pieces for sale. On the brighter side, Kuo also believes that Vision Pro will “sell out soon after the release.”
Until technologies enabling access to the metaverse continue to develop out of the budding phase, it is highly unlikely that any company will see sustainable growth in the metaverse. Nevertheless, people are experiencing the metaverse, although not via HMDs, but through screens of their PCs or smartphones.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
