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He metaverse This is still costly for Meta, according to the latest quarterly report.
Targetwhich changed its name from facebook in 2021, having proven its faith in the technology, it lost $3.99 billion in the first quarter of 2023 in its division Real Estate Laboratoriesin charge of development metaverse.
Good numbers, but not in the metaverse
Financial results Target they fared better than expected, with sales up 3%, boosting revenue by $28.65 billion.
But if we look at reality labsthe situation is worrisome.
$3.99 billion loss in reality labs is one of the huge losses of the company Mark Zuckerberg in development metaverse.
Target lost $20 billion developing metaverse in 2022 and adds a loss of 30 billion as he pointed to this as his future at the end of 2020.
Implementation metaverse V Horizon Worlds it has been criticized for looking poorly executed so far.
Target It also launched a cutback campaign in 2023, the so-called “year of efficiency”. Around 21,000 people have been laid off from the giant, which has popular platforms in its portfolio, such as facebook, instagram And whatsapp.
Apparently Target downplays the metaverse project in an effort to master a trendy technology: artificial intelligence.
Source: RPP
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.