Meta Pulls the Plug on Its Metaverse Centerpiece After pouring more than $70 billion into a vision that once defined its future, Meta Platforms is shutting down the virtual reality version of

The keynote featured a bonkers video of Zuckerberg jumping between various CGI-rendered depictions of the metaverse in virtual reality. He visited a spaceship where the company’s executives were playing poker, toured a tropical mansion with a floating fireplace and met CTO Andrew Bosworth’s Pixar-esque alien pet Oppy.

Mark Zuckerberg and Meta are scaling back their metaverse ambitions after accumulating over $80 billion in losses

Meta announced changes that effectively leave Mark Zuckerberg’s vision of an immersive digital world based in virtual reality only on life support.

You remember it, don't you? The bold declaration that echoed across the globe in 2021. Mark Zuckerberg, standing on a digital precipice, didn't just rebrand Facebook to Meta; he fundamentally bet the entire future of his colossal company on a single,

You could buy and sell plots of land and advertising. Soon, brands began appearing in Decentraland, like Atari, Nestle, and Samsung. There was a Metaverse Fashion Week. Paris Hilton hosted a DJ set. Slews of headlines sprung up claiming that people were paying hundreds of thousands of dollars for virtual land and that users would one day navigate these spaces the same way they would traverse the real world.

The OASIS Consortium, a think tank that brings together execs of metaverse platforms, published some of the first comprehensive safety standards for Web 3.