Last Updated: July 12, 2023, 19:06 IST<\/span><\/p>\n<\/div>\n Palo Alto, California, USA<\/span><\/p>\n<\/div>\n<\/div>\n Metaverse was a big part of Meta’s future<\/p>\n<\/div>\n Meta\u2019s Indian-origin executive Vishan Shah, who oversees Meta\u2019s metaverse project, has claimed that the \u201chype” around the metaverse is dead.<\/p>\n He said that the metaverse was part of a \u201chype cycle” that attracted many investors, reports Fortune.<\/p>\n \u201cI think the metaverse hype is dead. I think we were in a hype cycle. Like any new thing, and those invested last year, because it wasn\u2019t the hype. We didn\u2019t invest for the hype, we have been investing in the space for years; the Oculus acquisition was in 2014,\u201d Shah was quoted as saying.<\/p>\n Moreover, the report stated that the metaverse market appears bleak from an outsider\u2019s viewpoint, as divisions continue to shut down at an alarming rate.<\/p>\n Disney recently left its metaverse ambitions and shattered dreams of a virtual wonderland behind, plus Microsoft said goodbye to a social virtual-reality platform it purchased in 2017, effectively ending its own metaverse journey.<\/p>\n However, Shah sees the bust differently.<\/p>\n \u201cI\u2019m actually pretty happy that there was both a hype and a trough of disillusionment last year; it was tough to live through that, of course, ourselves. But now we have our heads down and build because that\u2019s what it takes to build something difficult to iterate and do it,\u201d he said.<\/p>\n Further, the report said that there are many exciting new developments in store for Meta\u2019s Metaverse.<\/p>\n Meta Quest 3, the company\u2019s next-generation VR\/MR headset, will be in the hands of consumers later this year.<\/p>\n Apple has entered the AR headset market with the Apple Vision Pro, which will be available early next year at $3,499.<\/p>\n \u201cMeta is gearing up to unveil long-awaited legs for its metaverse avatars later this year. More than 1 billion people have created avatars so far,” Shah mentioned.<\/p>\n Meanwhile, Meta has launched Twitter rival Threads, which has crossed 100 million user sign-ups within a week of its launch.<\/p>\n (This story has not been edited by News18 staff and is published from a syndicated news agency feed – IANS<\/a>)<\/i> <\/div>\n [ad_2] [ad_1] Last Updated: July 12, 2023, 19:06 IST Palo Alto, California, USA Metaverse was a big part of Meta’s future The company has put its future ambitions on the ecosystem, but the senior Meta executive is not sure about those plans. Meta\u2019s Indian-origin executive Vishan Shah, who oversees Meta\u2019s metaverse project, has claimed that the … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-6897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/posts\/6897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6897"}],"version-history":[{"count":0,"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/posts\/6897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/media\/6898"}],"wp:attachment":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Metaverse](\"https:\/\/images.news18.com\/ibnlive\/uploads\/2021\/07\/1627283897_news18_logo-1200x800.jpg?impolicy=website&width=510&height=356\" "\\"Metaverse"){kind=logo}
<\/figure>\nThe company has put its future ambitions on the ecosystem, but the senior Meta executive is not sure about those plans.<\/h2>\n<\/div>\n<\/div>\n
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