In 2023, Meta might invest an additional $19 billion in the Metaverse.
Quick take: 20% of Meta's spending in 2023 will be related to the metaverse. According to a recent research report by Radio Free Mobile, that is equivalent to almost $19 billion. For making excessive investments in the metaverse, the firm faced criticism in 2022. As long as they are dedicated to gaining long-term benefits, Meta Platforms will continue to invest in the metaverse. The company might spend up to 20% of its 2023 spending budget on its metaverse business, according to Reality Labs CTO Andrew Bosworth's blog post from Monday. Additionally, Zuckerberg's earlier this month comment that despite Less.
It's interesting to see that Meta Platforms is planning on dedicating a significant portion of its spending budget for 2023 towards the metaverse. While there was criticism towards the company for investing heavily in the metaverse in 2022, it seems that they are still dedicated to gaining long-term benefits from this technology. The potential for the metaverse to revolutionize industries such as gaming, social media, and even education is vast, and it will be interesting to see how Meta Platforms' investments in this area pay off in the future. Overall, it's clear that the metaverse is an area of focus for many companies, and it will be interesting to see how it develops and shapes the future.