Facebook is fighting for survival, but it will not die as a result of influence and pressure. To rescue a dwindling user base, Zuckerberg is relying largely on the “metaverse.” He has always recognized that controlling a large hardware platform is critical to Facebook’s future.
Last week’s brand shifts its name from “Facebook to Meta”. Let’s see if customers embrace it and make it a reality – the fate of Meta/Facebook is at risk.
The largest global companies own the metal on which their software programmes run like Apple and Microsoft have had their fingers in the hardware pie for years, and Google has even built a substantial OS company with Android.
There was a surge of investment in VR throughout the industry in the years immediately after ffollowing the Oculus purchase. Google, Microsoft, Sony, HTC, Steam, and others launched hardware platforms with much excitement, but these investments were mostly cancelled a few years later, leaving a shortage of VR hardware platform alternatives.
Facebook On The Edge Of Its Survival, fighting for survival
And that’s when Facebook came into effect. It increased its investment in the Oculus platform, experimenting to make high-quality mobile VR hardware devices, began financing game creators with funding, and voraciously purchased the platform’s most compelling titles. Taking a programmer ecosystem strategy through purchasing is a long-term investment that will help to overcome the cold-start content challenge that all of these VR platforms encountered.
He is recognised as a foresighted thinker, whether he is lucky or not. He has demonstrated good strategy in responding to market moves and timing, not all of which he was able to control.
The “metaverse” is already present in games like Fortnite and Roblox. Zuck believes that by providing completely immersive experiences using head-worn computers, he can attract an older user base.
If Facebook’s purchase history is any indication, Zuckerberg’s plan will be a success, even though Facebook’s most profitable purchases, such as WhatsApp and Instagram, had already been established social achievements when they were bought. Going all in on the “metaverse” creates a new framework and concept that, despite several hype cycles spanning 30 years of enthusiasm, has been tragically sluggish to gain attraction.
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