In an ambitious endeavour to invigorate its flagging Horizon Worlds platform, Meta has instigated a purposed rebooting process involving the nurturing of a new in-house VR game studio, titled Ouro Interactive. Having suffered tumultuous losses of $3.7 billion in Q2 2023, this move represents Meta’s strategic assault on turning the tide of an apparent dwindling consumer interest in its metaverse.
Vishal Shah, Meta’s metaverse VP, shared in an interview with tech publication Lowpass that the new studio venture is responsible for creating pioneering first-party titles. This includes “Super Rumble”, described as a triumph of advanced technological prowess that’s significantly enhancing the platform’s appeal through immersive, visually appealing experiences. Shah touted this development as a pivotal stride in raising the ceiling of Horizon’s capabilities, in terms of visual sophistication, user interaction, and enjoyable gameplay.
A noticeable shift in Meta’s strategy, however, is their aim to appeal to the hordes of mobile gamers globally by introducing Horizon Worlds on app stores. Although the schedule for this move remains nebulous, the plan is to transform the platform from being VR-exclusive to VR-predominant. This maneuver is an attempt to bridge the gap for those devoid of a VR headset and seamlessly incorporate cross-platform play.
The past year for Horizon Worlds has been marked by centered efforts on supporting complex games and facilitating developers’ access to third-party tool assets. The platform has also adopted generative AI tools for user-friendly building in its world. This is testament to Shah’s assurance that this upgrade is more than a mere renovation, but rather, a futuristic version of Horizon Worlds.
Meta’s CEO, Mark Zuckerberg, affirmed the company’s commitment to AI and the metaverse as focal priorities, acknowledging their interconnection and mutual benefits. Despite recording an operating loss of $3.7 billion within the Reality Labs department in Q2 2023, the company remains optimistic and expects an increase in operating loss due to product development in the same year. While Meta is cranking up its commitment to the metaverse, other competing giants are exhibiting signs of retreat, as indicated by Disney’s recent layoffs in its metaverse team and discontinuation of its virtual world-building initiatives.
In short, Meta’s revitalized interest in the metaverse presents a compelling narrative in the ebb and flow of consumer interest, profitability, and competition in the metaverse ecosystem. Only time will determine if these grand institutional efforts will succeed in reinvigorating consumer appetite in Meta’s metaverse.
Source: Coindesk
