Mark Zuckerberg rebranded Facebook in November last year under a new name Meta, which is represented by the Loopy Infinity logo. As the new moniker suggests, the social networking mammoth is gearing up to work on metaverse projects. To bolster its team with the best minds, Meta is reportedly roping in tech workers from Apple and software giant Microsoft, specifically targeting its team of Augmented Reality (AR). In the metaverse, which can be described as the future of the Internet that can support a functional virtual universe, AR will form an important element.
About 100 employees of Microsoft’s HoloLens AR headset team have resigned and joined Meta last year, a Wall Street Journal report said.
When a similar pattern of former employees joining Meta was noticed by Apple, the iPhone-maker began to retaliate to retain its employees.
According to a December 2021 Bloomberg report, Apple has introduced attractive stock options and bonuses for its employees between $50,000 (approximately Rs 36 lakh) and $180,000 (approximately over Rs 1 crore).
Speaking about Meta’s goals, its vice president, Nick Clegg, revealed last year that the company is building itself out for the Metaverse.
While the concept of the Metaverse is still catching on among tech-enthusiasts, Clegg said it was essential for Meta, formerly Facebook, to run into the space.
In Zuckerberg’s words, the Metaverse future will allow people to teleport instantly as a hologram “without traveling to the office, to a concert with friends, or to their parents’ living room to catch up”.
Metaverse technology is on the rise. Both Apple and Microsoft have also shown interest in this area.
Last year, Microsoft CEO Satya Nadella spoke in favor of the Metaverse concept.
The metaverse is here, and it is changing not only how we see the world but how we participate in it – from the factory floor to the living room. to keep track. pic.twitter.com/h5tsdYMXRD
— satya nadella (@satyanadella) November 2, 2021
There is also speculation that Apple may release a mixed-reality (MR) headset for its vision of the metaverse later this year, a recent Benzinga report said.
Bloomberg Intelligence expects the market opportunity for the metaverse to reach $800 billion (approximately Rs 59,58,719 crore) by 2024.
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