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Tech Giants Shift Strategies: The Metaverse Dream Shattered, Reflections After $73 Billion Investment
【Crypto World】Tech giants who once had high hopes for the Metaverse are quietly changing their tune. Meta has laid off approximately 1,500 employees in its Reality Labs division, accounting for 10% of the department, and is simultaneously shutting down several VR game studios — this is not a minor adjustment but a strategic U-turn.
It’s a bit ironic to say the least. This company renamed itself from Facebook to Meta in 2021, vowing to fully commit to the future of virtual reality. But what is the reality? Reality Labs has been burning money, with total investments surpassing $73 billion, yet it remains in a state of loss. Today, the company’s focus has already shifted to the AI field.
The specific actions in this round of layoffs include shutting down internal studios, halting new development for the fitness app Supernatural, which was acquired for $400 million last year, and cutting the Workrooms project aimed at enterprise VR applications. In other words, from consumer to B2B, from gaming to enterprise applications, Meta’s ambitions in virtual reality are being realized one by one. For the development of Web3 and decentralized applications, this also reminds us — the strategic swings of large companies are themselves a real part of the market.