Meta sent an email blast to Horizon Worlds users today stating that the social VR world will officially end on its Quest VR headsets; starting March 31, Horizon Worlds will no longer be in the Quest store. Some Horizon-specific perks, including Meta Credits, avatars, and some digital clothes and in-world purchases, will also be removed.
Instead of attempting to make the 3D social platform work for both VR and mobile, Meta is "explicitly separating" its "Quest VR platform from our Worlds platform" and "shifting the focus of Worlds to be almost exclusively mobile," Samantha Ryan, Reality Labs' VP of content, says in a blog post. The new approach sets Meta up to better compete with platforms like Roblox and Fortnite, which also offer user-generated experiences that can be played on your phone.
No app required: browser-based AR as the go-to for brand content Web-based AR, or WebAR, will see a significant increase in adoption in 2023. The simple, compelling promise of WebAR is that it allows consumers to access AR content via their browser, from anywhere in the world, with no app required. Whether you're on Android, iOS, or a future headset, all you'll need is web access to engage with the infinite possible experiences brands can bring to life through this technology.
That Meta's move has propelled the concept of the metaverse into the public consciousness, bringing with it no shortage of brands into the space, is no bad thing. Very few of us beyond niche communities were talking about 'the metaverse' two years ago. And now we are.
Early on in my own career, I was lucky enough to spend some time with Nick Kendall when he was head of planning at BBH and running the IPA Excellence Diploma. He gave some very simple advice that I didn't fully appreciate at the time. He said, 'no matter what, keep going.' Only all these years later do I realize how good his advice was, so I'm passing it on.
"Ikea wanted to better understand how Gen Z and Gen Alpha think about furnishing and self-expression, recognizing the need to meet them on platforms they already use and learn from how they interact with products and spaces in a digital environment,"
In December, Mark Zuckerberg instructed Meta's business divisions to cut expenditures by 10%, Fast Company reports. But Reality Labs - the group responsible for developing metaverse hardware and experiences that reportedly lost $73 billion in five years - cut spending by 30%. As a result, Meta laid off 1,000 employees from Reality Labs this week, according to . It appears the metaverse - once by McKinsey to be a $5 trillion market by 2030 - is ending with a whimper.
Meta isn't giving up on its metaverse push. In a recent memo viewed by Business Insider, CTO Andrew Bosworth told employees about a shake-up in the division. "The priority of the metaverse work remains unchanged, and it continues to be a companywide priority," he wrote. Bosworth had previously told Meta staff that this year would be the "most critical" to prove the metaverse is either a visionary feat or a "legendary misadventure," according to an earlier memo viewed by Business Insider.
Growth investors face a paradox: The best companies always look expensive, but waiting for "cheap" often means missing the compounding that builds fortunes. Recent volatility has cracked open entry points in three platforms growing 13% to 27% annually, with moats that deepen as they scale. Unlike the artificial intelligence (AI) darlings trading at 100 times sales, these businesses already generate meaningful cash while riding secular trends untouched by Fed cycles or politics. Read on to find out more about these three incredible growth stocks.
The conference kicks off Wednesday, September 17, at 5 p.m. PT / 8 p.m. ET, with a keynote speech from Meta CEO Mark Zuckerberg. According to Meta, you can watch as Zuckerberg "shares the latest on AI glasses and lays out Meta's vision for artificial intelligence and the metaverse." Meta should be announcing AI-powered smart glasses, internally codenamed Hypernova, CNBC reports. The glasses are rumored to retail for $800 and have speakers, microphones, and a camera.
Roblox is one of those companies that has all the ingredients for growth: cultural relevance, a massive user base, and a bold vision for the future of interactive entertainment. With over 110 million daily active users and an ecosystem that resembles a blend of YouTube, gaming, and social media, it's no wonder many investors see Roblox as a next-generation platform stock.
Even by the standards of franchise anime that caters to the faithful and drops newcomers in blind, this is particularly incomprehensible. Based on the mobile game Hatsune Miku: Colorful Stage!, it features a barely characterised blur of wannabe musicians and actors who ascribe Manhattan Project importance to writing syrupy J-pop. As they interact with virtual counterparts in metaverses called Sekai created from users' emotions, the film is like The Matrix if Neo had huffed a nitrous oxide canister.
Virtual online spaces are becoming a new marketing battleground as tobacco and alcohol promoters target young people without any legislative consequences. Companies are exploiting unregulated areas to reach youth.
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