Meta, the parent company of Facebook, are paying its metaverse programmers up to $1 million for their work.
According to anonymous sources, programmers working on Meta’s virtual reality suite can earn total compensation from “$600,000 to packages approaching $1 million.”
Despite the losses, Meta’s co-founder and CEO, Mark Zuckerberg, has been adamant about not changing the company’s long-term vision for the metaverse. In fact, at the beginning of February 2023, the company received approval from a US judge to proceed with acquiring a virtual reality company.
Reports from earlier this year showed that the company’s metaverse-building division, Reality Labs, suffered losses of $13.7 billion over the course of 2022. However, the recent report indicates that Meta is still investing in metaverse development and is willing to pay high salaries to its programmers.
The company has faced legal challenges in its metaverse endeavors, including a lawsuit from the Federal Trade Commission against Meta and Zuckerberg in an attempt to block the company’s “ultimate goal of owning the entire ‘metaverse.’”
Two US senators also recently released a letter to Zuckerberg, urging him to restrict teenagers’ access to the metaverse platform Horizon Worlds, citing “serious risks” and a “digital space rife with potential harms.”
Meta has also made some changes to its support for nonfungible tokens (NFTs) on Facebook and Instagram.
On March 13, the head of commerce and financial technologies at Meta tweeted that the company was slowly stopping its support for NFTs on those platforms for the time being. The executive stated that this move was to “focus on other ways to support creators, people, and businesses.”
Despite the challenges and losses, Meta appears to remain committed to metaverse development, with plans to acquire a virtual reality company and offering high salaries to its metaverse programmers.
The company’s metaverse ambitions highlight the growing interest and investment in the emerging technology, as companies seek to capitalize on its potential for new revenue streams and immersive user experiences.
However, legal challenges and concerns over potential harms to users, particularly young people, suggest that metaverse development may face regulatory and ethical hurdles in the future.
Meta Paying programmers up to $1m
In summary despite facing significant losses in its metaverse development, Meta continues to invest in the emerging technology and is paying its metaverse programmers up to $1 million, according to anonymous sources.
The company’s CEO, Mark Zuckerberg, remains committed to the company’s long-term vision for the metaverse, even in the face of legal challenges and concerns over potential harms to users. While Meta’s metaverse ambitions highlight growing interest and investment in the technology, regulatory and ethical hurdles may arise as development continues.