Facebook plans to invest $50 million in Facebook and MetaVerse. Founded by Chris Hughes in 2012, MetaVerse is a Blockchain-based virtual reality platform. The company also plans to invest in Oculus Quest 2 and Oculus Go, two VR gaming headsets. While MetaVerse is still early in development, it will be interesting to see if it will be successful and if it will make the Work-from-home shift a reality.
Oculus Quest 2
The latest rumor is that Oculus and Facebook are developing standalone VR headsets. Bastian has posted videos of an unannounced headset with the name Seacliff, crediting Samulia. The videos show the new hardware, which is based on the firmware for Seacliff, which has been in Quest’s firmware since August 2020. You can download the videos from the Oculus website. While Facebook is yet to officially confirm the authenticity of Bastian’s videos, the company has confirmed that the videos are genuine. A new standalone Oculus headset is coming and it may feature additional features and design changes that are in keeping with the Quest 2’s predecessor.
For gamers, Oculus Quest 2 has several advantages over other VR headsets. Users can play many different games on Facebook or Metaverse, and they can also add experiences to their accounts, such as those from the Rec Room. Before Oculus Quest 2, VRChat was launched, which allows players to create their own avatars and drop into different worlds. The VRChat platform boasts hundreds of worlds to play in.
Skepticism Towards VR Headsets
Despite the hype around VR headsets, some people remain skeptical. While the Meta Quest 2 is a leading VR headset, most people still don’t own one yet. However, the price tag is quite reasonable, at $299. The company is playing catch-up with other VR companies in the market. However, Oculus isn’t entirely alone. Facebook and Metaverse are the most popular social networks in the world.
Oculus Quest 2 and Facebook and the Metaverse are two VR headsets that have helped make social collaboration across devices. The Quest 2 has overcome many of the previous obstacles that arose during the first beta testing of VR headsets. This standalone VR headset has a wireless system, operating system, graphics chip, and storage components, and functions just like a portable computer. The system also comes with two Oculus Touch controllers.
A re-upload of a 2019 Facebook and Metaverse trailer has gone viral on Twitter, and the fakeout doesn’t seem to be an isolated incident. The company is putting billions into developing this technology, and this may be the next version of the web. The biggest question is whether Meta can overcome these problems or not. However, it certainly has the potential to be the next big thing, so long as it doesn’t become a dominating force.
Blockchain-Based Metaverse
The blockchain-based metaverse on Facebook could bring a new level of security and trust. Since data leaks have plagued Facebook, its users have been leaving in droves in favour of more open and decentralized solutions. Despite its massive growth, it has recently suffered from declining user numbers and a tepid response from regulators. This is why Facebook has resorted to a blockchain-based metaverse.
The platform will enable users to create their own games, sell items and form relationships. In the metaverse, users can develop their own lands and turn them into whatever they wish. This land can be owned by an individual user or a company. The money made from the development of this land can be used for real-world purposes. The social networking giant also plans to integrate blockchain technology with its existing platforms. Therefore, Facebook is building the infrastructure necessary for the metaverse.
Social Network Plan
The social network has a plan to create a metaverse by the end of 2021. The aim of the project is to bridge the gap between the internet and the third dimension, making everything seem more real. Facebook sees the metaverse as a new frontier. And a rebranding of Facebook as Meta Platforms has helped catapult this tech concept into the public consciousness. As it’s now the most talked-about tech concept, it’s not surprising that Facebook would join in.
Meta’s two main social networks are planning to make a big move into the non-fungible token market. Users can now easily mint, trade, and display non-fungible tokens. It is the first step towards a metaverse superpower. A non-fungible token (NFT) is an unchangeable data unit that assigns a real value to a digital object. The NFT can also be traced on the blockchain.
A blockchain-based metaverse on Facebook can help people build their social networks in new ways. For example, Facebook’s acquisition of Horizon and Oculus is one example of this. Adding Facebook’s new metaverse to your stock portfolio could be beneficial. And if you’re interested in investing in the metaverse, you can buy digital tokens like DECENTAND’s MANA. The Decentraland virtual reality platform features games, real estate, and even events. A major metaverse token is MANA, which is used to buy virtual goods and services.
Virtual Reality
It’s been several years since the first mention of Virtual reality on Facebook, and the company’s new Oculus Quest 2 headset has significantly lowered the cost of entry into the VR market. A comparable headset like the HTC Vive Cosmos, for example, would cost upwards of $600. Facebook is the first to admit that its metaverse is a hypothetical world. Still, the company is clearly making money from the technology, which is expected to grow significantly in the future.
The concept of metaverse is not new, and the technology behind it has long been studied in Silicon Valley. Second Life and Metaverse are just a few of the companies exploring this concept. Even Jeff Bezos has expressed an interest in the concept, and Facebook’s massive scale may allow it to quickly deploy more funds over the next couple of years. Moreover, with so many people working from home, people are already accustomed to virtual communication.
Moreover, the company aims to use current technologies such as mobile devices and cloud-connected servers to develop a platform that can make virtual reality more accessible. It could also incorporate AR glasses or a mixed reality headset to create a truly immersive environment. Further, Zuckerberg’s presentation was well-received, showing examples of how the technology can be used for social interaction and entertainment. The company has already announced plans for a VR office setting called Horizon that could make use of the growing virtual work trend.
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Controversial Acquisition of Oculus
In October, Facebook changed its name to Meta after the controversial acquisition of Oculus. Its name is an allusion of its new “metaverse” and describes its vision for virtual worlds. The video game Horizon Worlds lets users create legless avatars, play virtual games, and interact with other avatars in the virtual space. The new Oculus Quest software also allows Messenger users to chat in VR.
However, despite these early stages, the metaverse is coming. Video game and tech companies are investing billions of dollars in virtual worlds. This investment could subsidize VR goggles or smart speakers like Google Home. Nevertheless, the metaverse still has an “early adopter” feel to it, and it’s not clear whether the technology will ultimately become “democratized.”
Work-From-Home Shift
While most companies have their office locations, Meta has taken this concept to the extreme. Rather than sending employees into a cubicle and sending them home to work, the company allows them to work from home from eight different countries: France, Germany, the Netherlands, Poland, Spain, the UK, and the US. And since Meta employees are paid market rates, it makes perfect sense for them to work from home.
With the Covid pandemic and the recent recession, many companies have made the decision to work from home. This new focus means processing more personal data. While Facebook’s CEO and the entire company are already focusing on virtual first interactions and the growth of the company’s business model, there are some challenges in this new direction for Meta. First of all, the company will have to address privacy concerns related to data sharing and data gathering.
Creating a New World in the Virtual Realm
The first step toward creating a new world in the virtual realm is the development of a new platform for virtual reality. Facebook is working on building this new platform and is hiring for several different positions. For instance, one job at Meta involved working on Instagram. The company no longer valued the work of its former employees. Ultimately, Meta did not see themselves as the right company to implement metaverse creation, so they quit and looked for a job at a rival.
The next step in creating a virtual world is the creation of a virtual world called the metaverse. The metaverse is a network of 3-D virtual worlds where people can interact, socialize, and do business. This is like the internet in virtual reality. It allows people to create and join countless other communities. You can meet people using virtual reality headsets, work with augmented reality glasses, and shop with the help of smartphone applications.
