According to statements made by Andrew Bosworth, CEO of Reality Labs, the company’s metaverse branch, Meta will continue to invest in VR technology in 2023.
While adapting to the current unstable economic climate, Meta has made certain modifications, but, according to Bosworth, the firm is still committed to its metaverse pivot.
The social metaverse startup, Meta, intends to continue creating projects for the metaverse and VR in 2023.
The company has seen significant setbacks as a result of the economic slump, but Andrew Bosworth, leader of the metaverse section dubbed Reality Labs, says that the company will still be advancing its new vision in an essay published on December 19.
I am confident in saying that despite having through one of the toughest years in the company’s history, Meta is as committed to the future we have in mind now as much as we were when we first unveiled it.
The most recent round of layoffs, which the business disclosed on November 9 and resulted in 11,000 employees being let go, has had an impact on Meta’s level of dedication to the metaverse.
Bosworth stated that this investment level “makes sense for a firm committed to staying at the cutting edge of one of the most competitive and innovative sectors on earth,” despite the fact that a number of investors had asked Meta to discontinue its metaverse operation.
With this level of expenditure, Meta will be able to progress the market in 2023 with innovations focused on augmented reality (AR) research and development procedures.