The idea of going to a comedy club in the metaverse is pretty much dead, and we can now focus on much bigger opportunities ...

At the heart of the metaverse derangement was the persistent inflation of its definition. McKinsey & Company proclaimed in June 2022 that the metaverse could generate “up to $5 trillion in impact by ...

The metaverse was supposed to be transformative. In March 2022, Meta CEO Mark Zuckerberg called it “the next chapter of the internet overall.” Three years ago, Satya Nadella, CEO at Microsoft, wrote ...

Mark Zuckerberg-led Meta scales back its metaverse ambitions after $80 billion in losses, shutting down Horizon Worlds VR ...

A version of this story will appear in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. Shares of the company formerly known as Facebook shot up 7% early Thursday in ...

Meta Platforms Inc. is weighing significant cuts to the budget of its metaverse unit, Bloomberg and the New York Times reported today. The unit is responsible for the company’s Quest series of virtual ...

Meta’s enormous bet on virtual reality ended last week, with the company reportedly laying off roughly 1,500 employees from its Reality Labs division — about 10% of the unit’s staff — and shutting ...

Mark Zuckerberg and Meta are scaling back their metaverse ambitions after accumulating over $80 billion in losses ...

Layer-1 blockchain and metaverse protocol Somnia has launched the Metaverse Browser, aiming to make Web3 exploration and custom content creation more accessible and user-friendly. Over the past few ...

As virtual environments evolve from speculative concepts into engaged digital economies, forward-thinking organizations are presented with a transformative opportunity: building dedicated marketplaces ...