Meta and the metaverse + All the Web3 news you missed this week
www.web3roundup.xyz
It was reported that Meta lost $2.8 billion on its virtual reality ambitions during Q2, which includes its Reality Labs, its AR and VR arm. The company logged $28.8 billion in sales for the quarter, its first-ever quarterly decline in revenue. As with any new technology, there’s always going to be an investment period. However, capitalizing on tech trends are more like waves in the ocean that need to be caught and surfed. Forcing a trend on consumers is a bit like artificially creating an ocean wave - its possible, but would take a tremendous amount of energy to start and sustain. Only time will tell how it plays out for Meta.
Meta and the metaverse + All the Web3 news you missed this week
Meta and the metaverse + All the Web3 news…
Meta and the metaverse + All the Web3 news you missed this week
It was reported that Meta lost $2.8 billion on its virtual reality ambitions during Q2, which includes its Reality Labs, its AR and VR arm. The company logged $28.8 billion in sales for the quarter, its first-ever quarterly decline in revenue. As with any new technology, there’s always going to be an investment period. However, capitalizing on tech trends are more like waves in the ocean that need to be caught and surfed. Forcing a trend on consumers is a bit like artificially creating an ocean wave - its possible, but would take a tremendous amount of energy to start and sustain. Only time will tell how it plays out for Meta.