At the Meta Connect event held at Meta headquarters in Menlo Park, California on September 27, 2023, Andrew Bosworth, the Chief Technology Officer of Facebook, delivered a speech to the attendees.
During Meta’s annual Connect conference, which focused on virtual reality and the metaverse, there was a lot of buzz surrounding Apple. Meta CEO Mark Zuckerberg unveiled the Quest 3 VR headset, which will be available for $499 starting in October. The company also highlighted the success of its VR app store, Quest Store, which has generated $2 billion in sales since its launch in 2019.
This year’s event was different from the previous one in 2022 because attendees had more information about Apple’s upcoming entry into the VR market. Apple announced its Vision Pro mixed-reality headset in June, which will be priced at $3,499 when it becomes available next year. Apple’s reputation for premium consumer devices and hardware excellence has generated excitement and interest in its VR offering.
While VR and mixed reality are still niche markets, conversations with attendees at the Meta Connect event suggest that there is a growing sense of optimism about the potential for expansion. Tom Symonds, CEO of the UK-based VR firm Immerse, expressed curiosity about Apple’s entry into the market and praised the company’s ability to seamlessly integrate hardware and software.
Before Apple’s announcement, the VR industry was facing an identity crisis, with investors pulling back and a decline in Web3 and crypto projects. Meta has been incurring significant losses as it invests in building its metaverse vision, which has frustrated some Wall Street investors. However, Apple’s entry into the market has breathed new life into Meta’s efforts.
In addition to showcasing the Quest 3 VR headset, Meta also unveiled the latest version of its Ray-Ban smart glasses, developed in collaboration with EssilorLuxottica. These glasses, priced at $299, utilize Meta’s AI software to provide users with features like landmark identification and sign translation.
Aneesh Kulkarni, CTO of VR training firm Strivr, emphasized the importance of Meta’s continued investment in pushing the VR market forward. Despite app store sales of $2 billion being smaller compared to Apple’s marketplace, which generated $1.1 trillion in developer billings and sales in 2022, Kulkarni highlighted the significance of the number for Meta. Josette Seitz, a mixed-reality developer at Baltu Technologies, pointed out that Apple’s existing customer base could contribute to the success of its Vision Pro headset, particularly for businesses already using Apple products.
Gaspar Ferreiro, a developer at VR firm Coal Car Studios, called the Vision Pro’s price “insane” but recognized that businesses might be willing to invest in it given Apple’s reputation. However, Meta still faces challenges in bringing VR mainstream, and Ferreiro doubted whether the Quest 3’s improvements over its predecessor would be enough to attract new customers outside of the industry.
Among the Quest 3’s key improvements is the “passthrough” feature, which enhances the visual experience by overlaying digital visuals onto the physical world. This improvement allows developers to create more compelling and visually attractive content that seamlessly integrates the physical and digital realms. Jeffrey Morin, CEO of Litesport VR, acknowledged that the Quest 3’s price is outside of his comfort zone, but he recognized the value of improved passthrough for his company’s upcoming mixed-reality app. Morin also sees the potential in developing for Apple’s Vision Pro in the future and expects the price to decrease.
Apple’s entry into the VR market has generated excitement within the VR community, with an increase in usage of VR apps observed following Apple’s announcement. This move signifies that VR is no longer just a side project for Facebook but a significant industry development.
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