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While the buzz surrounding the metaverse has definitely died down, some big brands are still rolling out exciting new virtual worlds. Back in October 2021, Mark Zuckerberg made a huge announcement: Facebook was going to rebrand as Meta. This was driven by his vision that the metaverse represented the tech giant’s future — virtual worlds where people would work and play. But it’s been a turbulent journey for the social network, which also owns Instagram and WhatsApp. Billions upon billions of dollars have been poured into building its metaverse, with little to show for it. That aggressive investment continues. Reality Labs, the division of Meta responsible for bringing this technology to life, lost $3.8 billion in the first quarter of this year — and there’s been a much greater focus on artificial intelligence. Countless other companies have also made big bets on the metaverse, with mixed success. Disney was especially bullish, with ex-CEO Bob Chapek declaring it to be “the next great storytelling frontier.” But last year, the entire department tasked with making this happen was abruptly shut down in a brutal round of layoffs.  The House of Mouse doesn’t appear to have given up on this dream entirely. Back in February, Disney invested $1.5 billion in Epic Games in a bid to create a “new persistent universe.” Tellingly, the word “metaverse” didn’t appear once in the press release. You could argue that buzz surrounding virtual worlds has been overshadowed by the rise of AI. But reports of the metaverse’s death have been hugely exaggerated, and pretty big projects continue to be announced on a regular basis. McMetaverse Earlier this month, McDonald’s Singapore unveiled a brand-new virtual world called My Happy Place, found directly within the fast food giant’s app. Users have been promised a chance to win “exclusive prices…

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Filed under: News - @ June 12, 2024 7:18 am