Quest 2’s high price is a bad sign for the Metaverse

In an unprecedented move, Meta has announced that it is raising the price of the usually affordable Quest 2 headset by $100 starting August 1. Despite Meta’s claim that the price hike is intended to allow the company to invest more in VR in hopes of “transitioning into the VR industry as well,” I’m left skeptical about the plausibility of this finding. Not only will this move hurt VR enthusiasts’ wallets, but it could hurt Meta goals as it attempts to turn the Metaverse into a mainstream experience.

This is bad news for tech proponents who are already struggling to get the idea across to users. From the moment companies like Meta turned it into a buzzword, the Metaverse has gained a fair amount of skepticism. Meta’s aggressive marketing push often appears as underdeveloped and overconfident – especially considering that the concept has been around for decades with titles like second life or even fortnite. Now pair that conceited rumor with the fact that Meta has been in hot water since its Facebook days after multiple lawsuits over privacy issues.

Metaverse was already off to a bad start with the company’s target audience; Now, these skeptics will cost more money to be able to access it through Quest 2.

Growing Metaverse Fears

The price hike appears to fundamentally go against what Meta wants to achieve with VR. The company wants the Metaverse to be available to everyone via virtual reality headsets, specifically Quest 2. Now, the entry price has gone from the $300 to $400 range to $400 to $500, significantly limiting people who are interested (or even able) in the purchase. $400-500 seems like a lot to pay for trying out technology that is not really expected It finds a foothold until at least 2027 – especially considering that it was $100 cheaper.

With people already feeling uneasy about the Meta’s ability to properly handle something as potentially invasive as the Metaverse, the extra $100 it would cost to access it might just be the final straw for those already around it. Additionally, the Quest 2’s price hike has raised a lot of questions regarding the pricing of future Meta devices.

Nothing has been officially announced when it comes to what other hardware Meta might eventually release that will be compatible with the Metaverse, but if the company is willing to make such a massive price increase for a nearly two-year-old piece of hardware, there’s no stopping it. than doing something similar with other products in the future. It sets an unusual precedent for everything that could come next for Meta’s VR plans, affecting the company’s already goodwill with users.

meta money math

From an outside perspective, the price jump seems random, which definitely won’t help The general public’s mistrust of the company. Quest 2 is not getting any new features or modifications that justify the higher prices on the hardware side. The company’s rationale is that they need an extra $100 with each purchase to invest more in VR, but that looks poor on paper. dead no need to More money to do anything.

It was recently announced during an earnings report that Meta lost $2.8 billion in Reality Labs, the company that runs the Meta VR effort. while this is Much Of money to lose in the business hub, in the grand scheme of overall Meta earnings, it’s not all that much. The same report announced that Meta made $28 billion in the second quarter of 2022, putting the loss into perspective. Moreover, Mark Zuckerberg explained that the Meta is still doubling over VR and Metaverse despite the loss. He said he believes “more strongly now that developing these platforms will unlock hundreds of billions of dollars, if not trillions over time.”

An office meeting takes place in the VR Metaverse.
MetaQuest

Losing $2 billion is a big deal for any company, but when you look at Meta earnings, it’s clear there’s still a lot to do if it’s as committed to its pivot as she says. Meta Quest 2 already exists The most popular VR headset ever. If Meta continues to support it, it should continue to increase its reach unless the general hunger for virtual reality subsides. Meta clearly believes in Quest 2 and for good reason, so increasing its price across the board feels like a step back that could only hurt the momentum of the hardware and the future of its Metaverse ambitions in turn.

After the Quest 2 price increase was announced, it’s clear that the ongoing list of consumer concerns hanging over the company’s vision for the Metaverse isn’t going away anytime soon. The company needs users to fill its virtual halls and hangouts more than it does at the moment, as its earnings reports show. If the ticket to the door is too expensive for users, it could spell disaster for the Metaverse before it even gets off the ground.

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