Facebook late last year rebranded itself into Meta, shifting its focus to setting up a metaverse and operating it. Since then, Meta has been looking to strengthen its team and is reportedly hiring top tech talent from Apple’s and Microsoft’s teams focussing on Augmented Reality (AR). Also Read - Microsoft to keep Call of Duty on PlayStation even after Activision acquisition
The company according to a report by The Wall Street Journal has hired 100 staff members from Microsoft’s HoloLens AR headsets team. A similar pattern of Apple employees leaving the company to join Meta was also observed, but the iPhone maker has already started counteracting to retain its staff. Also Read - Biggest acquisitions made in the gaming industry: Microsoft-Activision Blizzard, Tencent-Supercell, and more
According to a Bloomberg report from December 2021, Apple introduced lucrative stock options and bonuses for its employees. These stock options and bonuses range from $50,000 to $180,000. Also Read - Sony speaks up for the first time after Microsoft-Activision deal
Meta is currently in the process of building its own metaverse. According to the company’s vice president, Nick Clegg, while the tech-enthusiasts are still catching up with the concept of the metaverse, it is essential for Meta to rush into the space.
Meta CEO, Mark Zuckerberg explains the metaverse as a place where people will be able to teleport to instantly as a hologram, whether it be “at the office, at a concert with friends, or in your parents living room to catch up.”
The metaverse concept is on a meteoric rise with both Apple and Microsoft also being interested to own and operate their products in the space. To recall, Microsoft CEO, Satya Nadella tweeted about the metaverse concept last year, which you can read below:
The metaverse is here, and it’s not only transforming how we see the world but how we participate in it – from the factory floor to the meeting room. Take a look. pic.twitter.com/h5tsdYMXRD
— Satya Nadella (@satyanadella) November 2, 2021
Apple has reportedly been developing its own mixed-reality (MR) headset for some time now, which will fulfil its own vision of metaverse. It is being said that Apple will release the MR headset later this year.
Bloomberg Intelligence in a report stated that it expects the market opportunity for the metaverse to reach $800 billion by 2024.