Meta: $ 2.8 billion loss for his metaverse department

Zuckerberg thinks long term – Facebook’s rebranding under the Meta banner at the end of 2021 hasn’t paid off so far. The company posted heavy losses in the second quarter of 2022 on the side of its metaverse subsidiary, Reality Labs. The first half of 2022 has therefore proved particularly financially painful. Despite a seventh consecutive quarter of defeats, the big player from Meta wants to be reassuring.

Clearly, the beginning of the cryptographic services it’s far from being a long calm river for the social networking giant. Very ambitious a few years ago, Zuckerberg and Meta had to cut in that area. The political and regulatory issues pushing too hard, the company was forced to abandon its Diem (stablecoin) e NOTovi (crypto wallet).

Also noteworthy are several deviations, including that of two strategic partners who worked on the Novi solution. They have since launched Aptos, a new level 1 with an already active test network.

The news is not necessarily happy for Reality Labs and, more generally, the parent company Meta regarding crypto and metaverse issues. Zuckerberg mitigates any alarmism:

“The Metaverse represents a huge opportunity for a number of reasons. I am even more convinced now that the development of these platforms will unlock hundreds of billions of dollars, if not trillions in the long run. “

Mark Zuckerberg, source

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The macroeconomic context does not help

It is not the action Half who will say otherwise. Record a fall of almost 60% since its peak last August. Zuckerberg readily admits that consecutive negative numbers add pressure, but it is ” obviously a very expensive undertaking in the next few years. “

Reality workshops develops augmented reality and virtual reality applications for Meta users. The entity produces the tools to stimulate activity in the metaverse and on social platforms. Therefore, it relies heavily on Oculus and VR headset sales. IDC has estimated equipment sales to be between 5 and 6.8 million in 2021, which still appears to be underpopular in the metaverse.

Zuckerberg reaffirms his ambition in the metaverse

Despite the difficulties of this department, Meta remains in excellent financial health. Not enough to start R&D budgets. Zuckerberg he is convinced that this digital universe will have an increasingly important impact in every aspect of our way of life “.

The Meta boss poses as a visionary leader. He is proving to be truly resilient despite the accumulation of insults (word is out) related to blockchain and cryptocurrencies. During the quarterly earnings announcement session, Zuckerberg showed his determination to invest in the future of the Internet. Although the future of the metaverse is uncertain, it is a safe bet that it is the home of a huge market. Especially if Meta ends up setting up its (very) greedy royalties announced to content creators.

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