Mark Zuckerberg believes that more than a billion people may become part of the metaverse in the coming years. More people on the metaverse means more spending. According to Zuckerberg, the right approach to diving into the virtual realm is to have a long-term position.
Zuckerberg also understands that the Metaverse has a long way to go and early adoption is the key to making it work. Zuckerberg has pointed out that the metaverse has the potential to be a major part of the modern economic order. Zuckerberg, the CEO of Meta Platforms, continues to iterate that the metaverse can become part of its social media network by the end of 2025.
Metaverse: Self-Expression through Avatars
In line with the metaverse, Zuckerberg highlights that people buying digital content, digital goods, and other digital items would become a way to express themselves. Whether, clothing or avatars, virtual realities within the metaverse hold endless possibilities. Businesses can also utilize integrated virtual utilities and conference rooms to increase productivity.
The Metaverse essentially ties together with augmented and virtual reality. And investors now want to capitalize on it as soon as possible. Since the transition into Meta, the growth of Zuckerberg’s company has had a significant decline. In fact, the number of people using Facebook has decreased for the first time in a decade.
Focus on Building Next-Gen Virtual Realities
As of now, Zuckerberg is directing his efforts to building the next generation of virtual realities paired with unique content. The idea is to create a centralized virtual space where you can sell or buy goods in the form of avatars and communicate with other people. META, previously FB, has started to navigate uncharted territories, and Zuckerberg believes that the company is heading in the right direction.
If Zuckerberg’s plans pan out, it will give META a competitive edge over other players that also want to be part of the metaverse. It is crucial to understand that Zuckerberg’s company has been investing in VR and AR for almost a decade now. In fact, the company invested over $2 billion in Oculus VR alone.
Immersive and Sensory Experiences
The hallmark objective of Zuckerberg is to make metaverse experiences more immersive than traditional style videos, photos, and text. In the coming decade, Zuckerberg hopes that the VR and AR-based realities will take over conventional content people are used to viewing on social media platforms. Zuckerberg has also managed to convince co-founders and leadership of the company about how the metaverse fosters a strong sense of togetherness. Within the metaverse, Zuckerberg iterates you can make direct eye contact and use spatial audio to have quiet conversations.
According to Zuckerberg, “it is the technology, that continues to evolve and makes it easier to deliver a more hyper-realistic presence.”
Zuckerberg highlights that bringing the Metaverse to the people in the next few years is a real possibility. However, it will require the company to release a combination of new software and hardware to render new experiences.
Possibility of Large Scale Operations around the Metaverse
Zuckerberg continues to be the foundational force to propel the company into the Meta space. In a practical sense, Zuckerberg understands that it will take some time before hundreds of millions of people dive into the metaverse. But Zuckerberg believes that the large-scale operations would render bigger opportunities and drive more growth for the company in the foreseeable future.