Sources: Meta cancels all its projects to create the Metaverse
just a few months ago, mark zuckerbergCEO of GoalI was still so convinced that the metaverse it would be the next step for the Internet that the very idea justified the countless billions of dollars the company had already invested in it, and promised to spend even more in the future.
Meta drops the term Metaverse in its official speech
But since then, the speech sounds quite different, it seems. In a long and exhaustive article published in The Information, they explain how Meta has completely abandoned the term “Metaverse” when presenting collaborations to potential partners. Among other things, he states:
“Meta is no longer talking about the metaverse in conversations with its advertisers, instead trying to get them to support its TikTok-like short videos and AI tools. This is in stark contrast to last year, when one out of every two words out of their mouths Zuckerberg’s idea was ‘metaverse’, in what he hoped would be the future of the Internet.
This is quite in contrast to the about 4.3 billion dollars spent in Reality Labs only in the last quarter, or with the fact that the metaverse was the reason the social media giant decided to change its name from Facebook to Meta (and even the Oculus virtual reality headset). The apparent beginning of the end of the metaverse project fits with the massive layoffs that have affected the Ready at Dawn (Lone Echo) and Downpour Interactive studios, acquired by Meta to work in virtual worlds, and which were known a few hours ago, and also with the more than 10,000 recent layoffs.