Meta, the parent company of Facebook, has introduced a virtual reality (VR) subscription service in an attempt to make that portion of its business viable.

According to Meta, premium customers will have access to two new games each month.

Instagram’s parent business saw a $4 billion (£3.1 billion) loss at its VR unit in the first three months of the year.

Meta will face competition from companies such as Apple, which introduced its highly anticipated mixed-reality headset last month.

The business announced on Monday that the Meta Quest+ service, which costs $7.99 per month or $59.99 per year, is compatible with its Quest 2, Quest Pro, and future Quest 3 headsets.

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Meta CEO Mark Zuckerberg announced plans to develop a “metaverse” – an online world where individuals may play games, work, and chat in a virtual environment, frequently utilizing VR headsets – in 2021.

“Over time, I hope that we are seen as a metaverse company, and I want to anchor our work and identity on what we’re building towards,” Mr Zuckerberg added.

Meta revealed many ambitious artificial intelligence initiatives in February of last year, and Mr Zuckerberg hailed AI as “the key to unlocking the metaverse.”

The corporation posted a $5.7 billion profit for the first three months of this year, exceeding market estimates.

However, its Reality Labs segment, which manufactures VR headsets and other products, posted a $4 billion net loss for the quarter.

Apple launched its Vision Pro mixed-reality headset earlier this month, marking the company’s first big hardware launch in nearly a decade.

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Apple’s headset, which will be available in the United States early next year, will cost $3,499 USD.

That is significantly pricier than comparable headsets already on the market. Meta’s VR headsets range in price from $299.99 to $999.99.


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