The CEO of Apple has hinted that the Facebook Metaverse technology may be something the famous global giant is keen to explore.
In Apple’s latest earnings call, a Morgan Stanley representative asked CEO Tim Cook if he was “thinking about the Metaverse opportunity and Apple’s role in that market,” reports the CoinBureau.
He replied: “Well, that’s a big question, but we’re a company in the business innovation [market] so we’re always exploring new and emerging technologies and I’ve spoken at length about how it’s very interesting to us right now. We have over 14,000 Augmented Reality (AR) Kit apps in the App Store which provide incredible AR experiences for millions of people today. So we see a lot of potential in this space and are investing accordingly.”
Apple isn’t the only well-known tech brand interested in exploiting the augmented universe.
Microsoft purchased gaming titan Activision for $95 (£70) a share in a $69 billion cash deal - the equivalent of around £51.4 billion.
In a statement, Microsoft said the acquisition was meant to “accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the Metaverse”.
Microsoft CEO and chairman Satya Nadella said: “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of Metaverse platforms.”
Meanwhile, social media giant Facebook dedicated an entire rebrand to the Metaverse, changing its name to ‘Meta’ and putting a huge focus on the blossoming space.
According to Business Insider, Meta has almost made $3 billion (£2.2billion) in sales on its new Metaverse.
In July, Facebook CEO Mark Zuckerberg said: “We will effectively transition from people seeing us as primarily being a social media company to being a Metaverse company.”
WARNING: Nothing in this article should be read or understood to be financial and/or investment advice. Readers should take their own financial advice from a suitably qualified independent financial adviser before making any investment decisions.
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