Facebook Inc (NASDAQ:FB) remains highly interested in establishing the first viable virtual reality platform as the first company to reach the finish line on the front will be able to set standards that others will have to follow. Virtual reality is poised to play a key role in entertainment especially in games as efforts also shift to extending the experience to other areas of entertainment such as movies.
Facebook Inc (NASDAQ:FB) has aggressively been pursuing the virtual reality space having already developed a virtual reality software with attention shifting to developing apps that will allow people to develop their own virtual reality content. Near term billion dollar opportunities in virtual reality lie in entertainment according to Facebook Inc (NASDAQ:FB) CEO, Mark Zuckerberg, and the team at Oculus.
Oculus acquired by Facebook Inc (NASDAQ:FB) has always had a substantial presence in gaming conferences and now it has developed its in-house VR movie studio as the race for the next big thing in the space heats up. New developments on virtual reality essentially mean development of new technologies that should find their way into areas of journalism, business, medicine, and mental health.
Virtual reality will first find its way into immersive games according to Zuckerberg as Oculus remains focused on expanding the platform to other experiences. There are a handful of core virtual reality applications that Facebook Inc (NASDAQ:FB) is seeking to address both in the fields of communication and media sharing. The ultimate value of the platform will come from offering developers powerful yet easy-to-use plumbing like UI controls and all sorts of VR-specific APis for making the feature a reality.
Zuckerberg has always envisioned Facebook as the new kind of plumbing for the Internet that is different from mediated links accessed through Google Inc. (NASDAQ:GOOGL) search but rather centered on human beings. There is a perception that eventually Facebook Inc (NASDAQ:FB) the social site will slip away and get replaced by Facebook, the infrastructure, a fundamental reconsideration of the internet’s fabric.
Oculus a $3.2 billion investment is Facebook’s engine in the virtual reality Push that should be able to generate hundreds of billions of dollars in the future. The Social network should be ready and willing to spend tremendous resources to make the metaverse and the Oculus platform a reality while opening it up to developers.
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