by An upcoming metaverse app for Apple’s much awaited Vision Pro headset is coming from a blockchain-related company.Victoria VR is a crypto-meets-virtual-reality (VR) developer that hopes to enhance the cutting-edge technologies of the Apple headset by providing an immersive metaverse experience with ultra-realistic graphics.The second quarter of this year is when the app is supposed to launch.
According to a statement issued by the company, the Victoria VR metaverse app will highlight the power of Web3 technology and highlight the capabilities of the Apple Vision Pro.Apple has entered the virtual reality space with this move, positioning Vision Pro as a rival to Meta’s (previously Facebook) Meta Quest headgear.
Victoria VR Metaverse Powered by VR Token
The VR token, an Ethereum-based cryptocurrency compliant with ERC-20 standards, powers the Victoria VR metaverse.Half of the proceeds from the sale of in-game assets will be distributed to active users and VR token holders as a way of rewarding them.According to CoinMarketCap data, the VR token’s market capitalization is $103 million, and in the past day, its value has increased by almost 60%. Victoria VR wants to establish a welcoming atmosphere that is available to all users.
The project places more emphasis on a “pay-to-speed” strategy than a “pay-to-win” one, making it possible for users to gain VR tokens just by taking part in the metaverse.This launch coincides with a growing trend of interest in the metaverse among tech companies, who are looking into potential business ventures there.Victoria VR wants to give users of the Apple Vision Pro headset a distinctive and interesting metaverse experience by fusing blockchain technology with virtual reality.
With the ongoing evolution and attention that the metaverse is receiving, the release of the Victoria VR metaverse app on Apple Vision Pro may mark a turning point in the development of blockchain and virtual reality.
Meta’s Reality Labs Records $4.6 Billion in Loss
The metaverse development subsidiary of Meta, Reality Labs, reported a large operating loss of more than $4.6 billion during the fourth quarter of 2023.Meta disclosed in its fourth-quarter report, which was made public on February 1, that Reality Labs lost $4.65 billion in Q4 despite making close to $1.1 billion in revenue.As of the fourth quarter of 2020, when Meta started incorporating the division’s financials in its reporting, this operating loss represents Reality Labs’ largest quarterly loss.
With the release of Meta Quest 3, which accounted for over half of the company’s revenue in the fourth quarter of 2023, Reality Labs’ total revenue for the year came in just under $1.9 billion.The operating loss for 2023 as a whole came to $16.1 billion, a 17.5% annual increase over 2022.Intense discussion has been surrounding the metaverse in the tech community, with some prominent figures such as Bill Gates expressing a cautious view.
The pessimistic view of the metaverse is not wholly unusual, especially in light of the recent retreat of many prominent proponents of the concept from their lofty goals.To start, the massive entertainment company Disney revealed last year that it was closing its metaverse division as part of larger layoffs that would affect up to 7,000 workers.The Blockchain-Based Metaverse Game-Powered Apple Vision Pro: The Next Big Thing? originally appeared on Cryptonews.
