Tech giant Meta the parent company of Facebook, Instagram, and WhatsApp messaging services has been eyeing an expansion into the Metaverse for some time. However, it got off to a rocky start, losing billions of dollars.
Still, a new Wall Street Journal report says that Meta's programmers can earn total compensation ranging from "$600,000 to nearly $1 million" for working on the company's virtual reality suite.
The report said information about Metaverse developer salaries came from anonymous "informed sources." Reality Labs, the company's virtual universe-building arm, will lose $13.7 billion during 2022, according to a report at the beginning of the year. It was the sector's biggest annual loss on record.
However, the company's co-founder and CEO Mark Zuckerberg has been open about saying that the company has no plans to change its long-term vision for the Metaverse. In fact, in early February 2023, Meta won approval from a U.S. judge to go ahead and acquire a virtual reality company. The ruling follows the FTC's lawsuit against Meta and Zuckerberg in an attempt to thwart "its ultimate goal of owning the entire Metaverse."
Two U.S. senators recently released a letter to Zuckerberg urging the Meta CEO not to give teens access to virtual universe platform Horizon Worlds. They cited "serious risks" and called it a "digital space full of potential harm".
On March 13, Meta’s head of business and financial technology tweeted that the company is currently slowly ending support for non-fungible tokens on Facebook and Instagram. According to the executive, the move is to "focus on other ways to support creators, individuals and businesses."
