Issues are transferring quick within the metaverse, and within the wider world of web3 as a complete. Right here’s what you want to know from this previous week:

Mark Zuckerg’s internet value has dropped by round 71% to this point in 2022, per Bloomberg. Its new report particulars simply how a lot Meta founder and chief government Mark Zuckerberg’s current spending on the metaverse has value the corporate – and himself personally. Zuck’s now reportedly the twentieth wealthiest individual on the planet, a place he hasn’t held since 2014. He was the third-wealthiest individual on the planet in September 2021, in keeping with Bloomberg, when his internet value peaked at $142bn.

Shortly after reaching that peak, in October 2021, Zuckerberg’s firm modified its identify to Meta and started investing totally on software program and {hardware} for the metaverse — primarily making a calculated gamble that this was going to be the subsequent main technological frontier. Typically talking, issues have been going downhill for Meta and Zuckerberg since then. Meta’s inventory value has dropped by 57% because the starting of 2022, per the Bloomberg report, way more than the dips skilled by another business leaders like Amazon and Apple (a lot of the business has financially suffered this yr).

Zuckerberg has made an effort to be clear with buyers that his firm’s pivot to the metaverse would require some short-term monetary losses as a way to achieve success within the long-term. However time will inform how affected person buyers are keen to be.

VR might cut back want for anesthetic throughout surgical procedure, examine exhibits

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