Reality Labs, the Meta division that hosts the project, has racked up around $75 billion in operating losses since 2020.

The memo also indicated that Meta will slow the pace of new hardware releases to focus on delivering higher-quality software that better matches its devices’ capabilities. Benzinga reached out to Meta’s investor relations team for their take on the ...

Translucia is a Thailand-led metaverse initiative launched by T&B Media Global. It’s framed as a full virtual world where people can interact, attend experiences, and take part in commerce. For brands, that matters because a “world” can host more than ads. It can hold communities, repeat programming, and digital goods tied to real benefits.

Mark Zuckerberg’s dream of the metaverse has rarely looked farther away. The Facebook founder is finalizing significant budget cuts to Meta’s years-long project to create virtual worlds that users can inhabit in VR, and is reallocating those resources ...

I believe the metaverse is the next chapter for the internet,” Mark Zuckerberg famously said in late 2021, when he changed Facebook’s name to a parent company called Meta. That was the level of Zuckerberg’s intoxication on his own coolaid.

Shares of Meta Platforms rose up to 4% Thursday following reports the company was scaling back its spending on the metaverse project, a virtual reality experience the company once touted as the future of virtual communication. Meta platforms are being ...

When the digital transformation happened, luxury was slow to embrace the change. While mass-market firms were eager to adapt early and seek opportunities in e-commerce and social media, many luxury outfits (even as recently as two years ago) were still ...

In less than two days, Meta has changed its mind on the Metaverse. The company has confirmed that it will not be shutting down its metaverse platform, Horizon Worlds for VR headsets. The announcement comes after Meta received feedback from users.