Meta’s CEO Mark Zuckerberg has recently put a spotlight on the Meta Quest 3, posing it as a formidable rival to Apple’s Vision Pro. This development hints at a renewed vigor in the metaverse space, previously overshadowed by the explosive growth of artificial intelligence and other tech phenomena.
Highlighting the features of Meta Quest 3, Zuckerberg pointed out its cost-effectiveness, being “7x less expensive” than Vision Pro. He stated that this makes it a more accessible option for consumers diving into mixed reality than Apple’s latest offering.
Zuckerberg Claims Meta Dominance Over Apple
Side-by-side comparisons reveal that the Quest 3 matches the Vision Pro in high-quality passthrough and big screen capabilities while weighing 120 grams less. A crucial aspect where Zuckerberg claims Quest’s superiority is that it does not have motion blur. This, he said, can be a big turn-off to those who want to use their headset for gaming or accessing metaverse-like experiences.
Because of this, Zuckerberg asserted:
“After using it [Apple Vision Pro], I don’t just think that Quest is the better value, I think that Quest is the better product. Period.”
Despite these advancements, Meta’s Reality Labs, the vanguard of the company’s metaverse pursuits, reported a hefty $4.65 billion loss in Q4 2023. Nevertheless, Meta is unwavering in its dedication to AR/VR technologies. The division’s recent shift to emphasize VR’s practical applications in professional training and medical rehabilitation reflects a strategic broadening of the metaverse’s appeal, extending beyond gaming.
And shareholders seem to share a positive outlook. Meta Platforms stock has seen mammoth growth. Share prices recently hit an all-time high of around $480 dollar. This is a massive 425% gain from November 2022, when Meta’s stock price sunk to a long-term low of under $90.
Meta Platforms (META) stock price chart 1W. Source: TradingView
Are the Metaverse Wars Back On?
In the midst of this, Disney is also emerging as a significant player in the metaverse arena. The entertainment giant, known for its adaptive strategies, has recently forged a new deal with Epic Games, hinting at ambitious plans for metaverse gaming.
This move by Disney, coupled with Meta’s and Apple’s initiatives, illustrates a vibrant and still-competitive metaverse sector. Both Meta and Apple are earnestly seeking a dominant position in this market, keen on revolutionizing experiences in diverse industries.
Read more: Top 10 Metaverse Platforms To Watch Out for in 2024
Disney’s entry into this race, leveraging its vast entertainment resources and new partnerships, adds another layer of intrigue and potential to the metaverse narrative.
The impact of tech and entertainment giants in the metaverse on consumers, industries, and tech is crucial to observe.
Read the full article here
