Facebook has recently put a ten-figure price tag on its efforts to conquer the metaverse.
Facebook chief financial officer David Wehner says it will cost the company several million dollars to work on augmented and virtual reality technology to drive a metaverse, an idea for a digital world that is increasingly blurring the lines between physical reality and online experiences. . Wehner made the remarks at a conference call with analysts Wednesday evening, offering the first snapshot of how much it will cost Facebook to maneuver this fledgling concept. (A little more specifically, Evercore ISI analyst Mark Mahaney puts the figure at about $ 5 billion).
Facebook said Monday that the metaverse project would fall under the domain of Andrew Bosworth, head of Facebook’s Reality Labs, a skunkworks of the social media firm. Bosworth said he hopes to create an experience where users can move from their physical feelings to a digital world that encompasses it “as easily as moving from one room of the house to the next.” To do so, Facebook currently has more than 700 openings on its job portal for RA and VR functions.
CEO Mark Zuckerberg told The Verge earlier this week that he considers the metaverse to be “the successor to the mobile Internet.” Facebook isn’t the only one interested in building the metaverse. The idea of this site is popular especially among video game companies, especially Epic Games Fortnite, which increasingly bears a resemblance to the metaverse worlds that appear in films such as The matrix i Ready Player One. Zuckerberg said, “The metaverse is certainly not something any company builds,” but I think a big part of our next chapter will help build it. “