Meta reportedly canceled a VR and AR operating system project. The initiative supposedly had more than 300 people working on it at its peak.
Meta, formerly known as Facebook, reportedly canceled a VR and AR operating system project that involved 300 people. The company, which is working on a Metaverse project, wanted to build a custom OS for the experience. There appears to be no specific reason as to why the initiative was canceled.
The report says that the project was called XROS and that it first began development in 2017. It even states that the project was somewhat far along in its development. However, Meta is still working on VR and AR initiatives, so it could be that it is looking at an alternative OS.
However, Meta itself denies that it is scaling back its operations to build an operating system for virtual reality, with communications manager Sheeva Slovan telling The Verge,
We are not halting or scaling back our operations in building a reality operating system. The team continues to make progress and we continue to invest in building for future computing platforms like AR glasses and wearable devices to help realize our metaverse vision.
Meta’s focus on these projects may have a bearing on the crypto market, as it is known to be very interested in the space. The metaverse is something that many projects and established companies are looking to enter, and there have been a lot of developments in this regard.
However, for better or worse, Meta is among the companies that are foremost in this regard. The company already has a great user base and reach, which could give it an edge against competitors.
The crypto community has little love for Meta and its cryptocurrency and blockchain-related initiatives. The group much prefers completely decentralized initiatives in the niche, of which there are already many.
The metaverse becoming crowded
Meta’s entry has only shone more of the spotlight on the metaverse, which was already exploding in popularity. Decentraland (MANA) and The Sandbox (SAND) have become two of the biggest names, and the latter has even gained some celebrity involvement.
Even Nvidia has announced that it would enter the metaverse race, announcing a marketplace tie-up and free software. Square, now known as Block, also discussed its metaverse initiative.
The metaverse is ripe with potential as it allows users to participate in a fun, virtual space and earn from it as well. Millions of dollars of virtual land have been sold, and these sales do not appear to be dying down.
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