4 Years After Going All-In, Meta Platforms Is Finally Ditching the Metaverse

Meta Platforms' (NASDAQ:META) journey into the metaverse began in 2014 with its $2 billion acquisition of Oculus VR, a move that positioned the company as a pioneer in virtual reality hardware. This laid the groundwork for immersive experiences beyond traditional screens. In 2019, Meta launched its social VR platform, Meta Horizon — originally called Facebook Horizon — allowing users to interact, create, and socialize in shared virtual spaces. The platform aimed to blend social networking with VR, fostering ...