Facebook will invest 10 billion dollars in Metaverse

Facebook announced the results of the third quarter, making clear the great emphasis it will place on AR and VR and the so-called Metaverse.

Metaverse is in simple terms an interconnected social network, a professional and corporate tool of holograms and teletransfers through AR and VR with many interfaces with the physical world. It is the digital “tangible” layer of our natural world.

Of course it’s not a new idea, with the first VR helmets, the Tron and Second Life, the first serious Metaverse date back in 2003.

No company has been able to make VR Mainstream either due to circumstances, or due to immature technology or of course due to lack of funding.

Everything indicates that the time has come when conditions allow the metaverse to be created even though the AR in normal glasses still has several years ahead of it, with Apple appearing to be leading the way in this area. 

If a company could lead the Metaverse race is Facebook, which is reflected in the latest financial results it announced: 

Daily Active Users: 1.93 billion (6% yoy increase).
Monthly Active Users: 2.91 billion (6% increase) .
Family Daily Active Users: 2.81 billion (11% increase).
CapEx 3Q 2021: 4.45 billion dollars.
Staff: 68,177 (20% yoy increase).
Cash in the bank: 58 billion dollars.
Estimated annual revenue for 2021: 31-34 billion dollars

But in addition to the figures that are important, especially to users, the figure of 10 billion dollars that Facebook will invest in Facebook Reality Labs, the AR/VR Metaverse unit, in 2021 is equally important!

Facebook owns one of the best VR helmets (Oculus), billions of users daily online and a lot of money to spend.

Metaverse is only a matter of time before it sets up, changing everything once again.

FACEBOOKinterconnected social networkINVESTMENTmetaverse