Meta VR Crosses $1Billion

Good morning, folks!

Today, February 2nd, longtime VR enthusiasts will wake up with a teary eye. The Apple Vision Pro delivery starts today, Meta’s VR division crossed $1 billion in revenue for the first time, and Tim Cook is on the cover of Vanity Fair wearing a Vision Pro. Is the VR industry finally getting the attention that it deserves? I think so! Now, where are the folks who kept telling us VR is dead?

 — Joel Johnson, Founder & Chief Editor

Headlines for people in a hurry:

• 🥽 Vision Pro Deliveries Begin Today

• 📈 Meta’s Reality Labs Crosses $1 Billion In Q4 Revenue

• 📅 Quest v62 Update To Gradually Roll Out This Week

• 🕶️ Ray-Ban Smart Glasses Are A Bigger Success Than Expected

Read time: 3 minutes

TOP STORIES

APPLE

The Next iPhone Moment? Vision Pro Deliveries Begin Today

Even though VR fanatics are excited about Apple’s entry into the game, one of the biggest gripes they still had was that we never saw Tim Cook wearing a Vision Pro. As silly as that may sound, even analysts were genuinely worried about what that meant. Is the company's CEO not really confident about the product’s success? Is he afraid that if it fails, his Vision Pro-wearing image will turn into a meme?

It has been 7 months since the demos and teasers, but yesterday, Cook squashed all rumours and appeared on the front page of Vanity Fair wearing a Vision Pro. The detailed interview has certain stories about the device’s development and how it blew away film directors like James Cameron and Jon Favreau.

There is a huge line in front of Apple stores across the country this morning (see video) as the Vision Pro is now available for users to buy in-store. This is quite similar to when the first iPhone came out and went on to change the tech world in a few years. Can the Vision Pro replicate the same success? Only time will tell.

META

Meta’s VR Division Crosses $1B In Quarterly Revenue For The First Time

Meta's Reality Labs has hit a new high, breaking the billion-dollar mark in quarterly revenue, and it's all thanks to the holiday season sales of Quest 3.

This is great news for the VR industry as a whole and it—no, don’t look at the red lines; just listen to me on how this is amazing news and it shows that the industry is rising…Okay, you know what? Let’s talk about the losses.

The $1.07 billion in quarterly revenue came on the back of their most expensive quarter yet, as they’ve spent a whopping $5.72 billion to keep the division running.

But don’t be sad for Uncle Mark just yet. He has already predicted that their VR division will run at a loss until 2030 and that we should consider these ‘losses’ as an investment for a future metaverse utopia.

Thankfully, Meta can foot the bill, as the social media giant raked in $40 billion in revenue this quarter ($135 billion in 2023) with a profit of $14 billion. A special thanks to people mindlessly scrolling Instagram every day; those heroes are literally funding the future of VR.

META

v62 Update: Big Changes Coming To Your Quest Devices

Meta is slowly rolling out v62 for Quest, their most ambitious update yet. We’ve covered many features in the earlier editions of our newsletter, but here is a quick rundown:

• The hand-tracking user experience has been improved with more intuitive gestures.

• You can watch spatial videos recorded on the iPhone directly on your Quest device.

• The microphone quality on Quest 3 has been upgraded for clearer speech and balanced sound.

• Multiple room mesh supports mixed reality experiences, storing up to 15 room setups.

• App continuity for multitasking allows 2D apps to persist when launching immersive apps.

• Quest Link PC VR now supports 120Hz on Quest 3 and improved graphics card compatibility.

• Facebook live streaming and YouTube Live Chat integration have been added.

• Gamepad support has been extended to the web browser, with PlayStation controllers now officially supported.

NEWS FLASH

META

Stranger Things Coming To Meta

• 🎮 "Stranger Things VR" launches on Meta Quest on February 22, inviting players to explore its thriller world.

• 🕶️ Ray-Ban and Meta report high sales figures for their smart glasses, with promising future updates.

• 🧩 "Puzzling Places" makes its debut on Apple Vision Pro, offering 3D puzzle adventures.

• 🌎 Horizon Worlds enters the top 10 Quest apps, showcasing Meta's VR social platform's growing popularity.

• 📈 Quest 3 becomes the third most-used headset on Steam, rapidly gaining traction.

• 🏃 Vive's Ultimate Trackers now offer PC support, broadening the scope for VR enthusiasts.

• 🎶 "Synth Riders" is rebuilt for Apple Vision Pro, promising an immersive music VR experience.

• 🔮 "Soul Spire" brings mystical exploration to Apple Vision Pro, enriching the VR game library.

• 🛠️ Apple Vision Pro's Unity support is now generally available for developers, expanding creative possibilities.

• 💤 Meta Quest's anticipated lying down mode is still on the horizon, promising more comfort for users.

• 🎮 Glydr's VR foot controller hits its Kickstarter funding goal in just 40 minutes, showcasing its innovative design.

BOOKMARKS

Immersive Articles From The Web

• A Peak Inside Vision Pro’s External Battery Reveals Their True Intentions.

• Mainstream Vision Pro Reviews Are Here. This Is What They Said.

• Game Room Is One Of The First VR Games for Vision Pro

UNREAL MONEY

FUNDING REPORT

Voxel Sensors Raised €9.5M In Seed Funding

VoxelSensors, a Belgian semiconductor company focused on 3D perception technology for XR use cases, has secured €9.5 million in enhanced seed funding.

This round includes €3 million from new investor SFPIM Relaunch and additional funds from existing investors.

The investment will support VoxelSensors' international growth, technological advancements, and customer engagement in Spatial and Empathic Computing for mobile and XR devices. The company aims to pioneer in this emerging field, enhancing user experiences based on user intentions.

COOL PROJECTS

INTERACTIVE VR

VR+AI+Cuteness

WRAP UP

MEME OF THE DAY

“But you were talking about phones, EU.”

Have a great week folks.

Just like every hardcore VR enthusiast right now, I’ll be keeping an eye on Twitter about Vision Pro. I’m curious how regular folks react to the product and what kind of memes might come out.

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