Meta aims to revitalize Horizon Worlds Metaverse by launching an in-house game studio.

Meta aims to revitalize Horizon Worlds Metaverse by launching an in-house game studio.

The Blockchain Industry: A Platform for Innovation and Growth

The blockchain industry has seen significant growth and innovation in recent years, with various companies striving to harness the potential of blockchain technology and revolutionize different sectors. Meta, the parent company of Facebook, is one such company that is making efforts to revive waning interest in its metaverse platform, Horizon Worlds, through a new in-house VR game studio called Ouro Interactive.

Meta’s Horizon Worlds platform has faced challenges, reporting losses of $3.7 billion in the second quarter of 2023. However, Meta is determined to recoup these losses and reignite consumer interest in the metaverse. The company’s metaverse VP, Vishal Shah, shared in an interview that Ouro Interactive is developing new first-party titles that leverage technological advancements to create visually stunning and immersive experiences.

“We’ve really raised the ceiling on what can be built in Horizon in terms of visual complexity, interactivity, and fun gameplay,” Shah explained.

To expand its user base and target the billions of mobile gamers worldwide, Meta plans to bring Horizon Worlds to app stores and integrate cross-platform play. By doing so, the platform aims to bridge the gap between VR and non-VR users, transforming from a “VR only” platform to a “VR first” platform. This strategic move recognizes the potential for growth beyond the traditional VR market, making the metaverse accessible to a wider audience.

In recent times, Horizon Worlds has made significant strides in supporting more complex games and facilitating asset importation using third-party tools. Additionally, the platform is investing in generative AI tools, empowering users to build within the metaverse without extensive knowledge of professional 3D rendering tools. This commitment to user-friendly features and enhanced capabilities contributes to Horizon Worlds’ evolution into the next generation of metaverse platforms.

Meta’s CEO, Mark Zuckerberg, emphasized the company’s commitment to AI and the metaverse during an earnings call. Both AI and the metaverse are major priorities for Meta, with their integration complementing each other. Zuckerberg noted that Horizon Worlds’ current focus is on improving user retention and enhancing avatars to bridge the gap between mobile apps, VR, and mixed reality experiences.

Despite these ambitious plans, Meta faces challenges in its Reality Labs department, responsible for its Quest VR headsets and the Horizon Worlds platform. The department recorded an operating loss of $3.7 billion in the second quarter of 2023. Meta expects these losses to increase year-over-year in 2023 due to ongoing product development. Nonetheless, Meta’s renewed interest in the metaverse comes at a time when other companies, like Disney, have scaled back their metaverse projects.

The blockchain industry continues to evolve, opening doors to countless opportunities in various sectors. Meta’s efforts to revitalize Horizon Worlds demonstrate the industry’s commitment to innovation and growth. By leveraging advancements in VR and game development, Meta aims to transform the metaverse experience and capture the attention of a wider audience. As the blockchain industry progresses, more companies are expected to explore the potential of decentralized technologies, bringing forth a new era of connectivity and engagement.

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