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Usha Yadav
May 27, 2022
by Usha Yadav

Mark Zuckerberg Claims - Metaverse Will Result in "Significant" Short-Term Losses

Mark Zuckerberg

Table of contents

  1. Meta's Metaverse's Laser-Focused Target
According to CEO Mark Zuckerberg, who commented during a shareholder meeting on May 26, Meta's metaverse move will result in a "substantial" loss in the short run. Zuckerberg stated that this will be profitable in the long run and that, for the time being, the company's income growth will come from its Instagram Reels. According to Zuckerberg, the metaverse strategy might result in losses for up to five years, putting pressure on the company's shares. The price of Meta has dropped dramatically in 2022, down 43.4 percent year to date. Despite a lacklustre Q1 financial report for 2022, the social media behemoth remains hopeful about the Metaverse.

Meta is ramping up its metaverse efforts by launching many new initiatives. It is also interested in hardware gadgets, which will play an essential part in the Metaverse because consumers will be able to experience it through virtual reality. In April 2022, it opened its first hardware store to allow people to test hardware.

The company has created cash for use in its Horizon Worlds VR programme, one of the most prominent features. Meta has made it quite apparent that she wishes to rule the Metaverse.

Meta's Metaverse's Laser-Focused Target

Meta has shifted its focus to the Metaverse, intending to become the premier platform for its virtual experiences. This shift occurs as Facebook struggles to maintain growth, and Instagram faces stiff competition from apps like TikTok.

Meta believes that VR and AR experiences are the most excellent way to address the shifting landscape of social experiences and that they can seize the opportunity. However, as previously stated, the work is not without cost - billions have been invested in the Metaverse, and Meta has been forced to cut back.

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Mark Zuckerberg Claims - Metaverse Will Result in "Significant" Short-Term Losses
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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