Quest 2 price hike is a bad sign for the Metaverse

In an unprecedented move, Meta has announced that it is increasing the price of its normally affordable Quest 2 Headset $100 Starting 1st of August. Although Meta claims that the price jump is to allow the company to invest more in VR in hopes of “taking the VR industry further,” I’m skeptical about the likelihood of that outcome. The move will not only hurt VR fans’ wallets but potentially hurt Meta’s goals as it attempts to turn metaverse In a mainstream experience.

This is bad news for proponents of the technology who are already struggling to get views with users. From the moment companies like Meta turned this into a buzzword, Metaverse has received a fair amount of skepticism. Meta’s aggressive marketing push has often come across as underdeveloped and overconfident — especially considering that the concept has been around through the title for literally decades. second Life or even fortnite, Now combine that egregious rollout with the fact that Meta has been in hot water since its Facebook days. Different lawsuits related Privacy issues,

The Metaverse had already gotten off to a bad start with the company’s target audience; Now, it’s going to cost those skeptics more money than even the Quest 2 has access to.

The growing concern of the Metaverse

Price hikes seem fundamentally at odds with what Meta wants to achieve with VR. The company wants the Metaverse to be accessible to everyone via VR headsets, specifically the Quest 2. Now, the price of entry has increased from the $300 to $400 range to $400 to $500, limiting primarily those interested (or even capable). ) in buying. $400-500 Seems like a lot to pay to try out technology that’s not really expected At least 2027. Find your base till – especially considering that it used to be $100 cheaper.

A person wearing and using an Oculus Quest 2 VR headset in front of a gray background.

With people already feeling uneasy about the Meta’s ability to properly handle something as potentially offensive as the Metaverse, it cost the extra $100 to join the final straw for those involved. Maybe those who are already on the fence about it. Additionally, the Quest 2 price hike has raised a lot of questions regarding the pricing of future Meta hardware.

When it comes to other hardware nothing has been officially announced that the Meta may eventually launch that will be compatible with the Metaverse, but what if the company is willing to offer such a steep increase in price for a piece of hardware? Which is almost two years old, can’t stop it from doing something similar to other products down the line. It sets an unusual precedent for what could happen next for Meta’s VR plans, eating up the company’s already thin goodwill with users.

meta money math

From an outside perspective, the price jump seems arbitrary, which certainly won’t help general public distrust of the company, The Quest 2 isn’t getting any new features or adjustments that justify the price hike from the hardware side. The company’s argument is that investing more in VR requires an additional $100 with each purchase, but that seems thin on paper. meta doesn’t need More money for nothing.

It was announced during a recent earnings report that Meta Loses $2.8 Billion on Reality Labs, the company is helping with Meta’s VR efforts. while he is very In the grand scheme of meta’s total earnings, of money to lose on a trade pivot, it’s not all that much. The same report announced that Meta made $28 billion in the second quarter of 2022, putting losses in perspective. On top of that, Mark Zuckerberg clarified that despite the pitfalls, Meta is still doubling down on VR and the Metaverse. He added that he believes “developing these platforms even more strongly now will unlock hundreds of billions, if not trillions, of dollars over time.”

An office meeting is taking place in the VR Metaverse.
meta quest

Loss of $2 billion is a big deal for any company, but when Looking at Meta’s earnings, it is clear that if it remains committed to its axis as it says, there is still a lot to do. meta quest 2 is already The most popular VR headset ever made, If Meta continues to support it, it should stand to further expand its reach until the general appetite for VR ends. Meta clearly believes in Quest 2, and for good reason, so raising its price across the board seems like a backward step that could only hurt the speed of the hardware and the future of its Metaverse ambitions.

After the Quest 2 price hike was announced, it’s clear that the ongoing list of consumer concerns plaguing the company’s vision of the metaverse won’t go away anytime soon. The company needs to populate its virtual halls and Hangout spots with users needing more cash than ever, as its earnings report shows. If the ticket is too cost-prohibitive for users to enter the door, it could spell disaster for the metaverse even before it even gets off the ground.

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