Meta has announced that it will shut down its metaverse project, Horizon Worlds, after investing $80 billion since its launch in 2021. The project has not gained enough users to be sustainable, prompting a shift in focus toward generative artificial intelligence (AI).
• The metaverse project, envisioned by Mark Zuckerberg as a new frontier for social interaction and business, failed to attract a significant user base.
• Despite heavy investment, the Reality Labs division, responsible for VR and metaverse development, has suffered substantial financial losses.
• By June 15, Horizon Worlds will be removed from Quest headsets entirely.
• Meta had projected that the metaverse could draw a billion users and generate vast revenue, but this did not materialize.
• The company has laid off roughly 10% of its Reality Labs employees and closed several VR game studios due to ongoing losses.
• Since the success of ChatGPT in late 2022, Meta has redirected its resources to focus on generative AI, expanding its AI division to develop large language models and related technologies.
Meta's decision to discontinue Horizon Worlds signals a major diversion from its initial ambitions in the metaverse, now aligning with the growing interest in generative AI technology.
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