Why Facebook-Parent Meta Is Willing To Lose Billions On The Metaverse

Facebook changed its name to Meta in October 2021 and CEO Mark Zuckerberg used the occasion to show the world his vision of a digital future of work and play accessible through a VR headset. Two months later the company launched its virtual universe, Horizon Worlds. Propelling the metaverse hype to an all-time high. But, as the rebranding to Meta hits its third anniversary, the metaverse seems to be stalled out. So what happened to the metaverse? Chapters: 00:00 - Intro 2:00 - Into the Metaverse 5:04 - Virtual reality check 8:08 - The long game Credits: Produced by: Devan Burris Edited by: Christian Nunley and Devan Burris Supervising Producer: Jeniece Pettitt Animations: Christine Locopo Editorial Support: Jonathan Vanian Additional Footage: Getty Images, Fortnite, Roblox, Meta, Acquired, The Sandbox Game, Decentraland » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to earn more money at work? Take CNBC’s new online course How to Negotiate a Higher Salary. Expert instructors will teach you the skills you need to get a bigger paycheck, including how to prepare and build your confidence, what to do and say, and how to craft a counteroffer. Register now and use coupon code EARLYBIRD for an introductory discount of 50% off through Nov. 26, 2024: https://cnb.cx/4f4s3rZ Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC Why Facebook-parent Meta Is Willing To Lose Billions On The Metaverse