Meta’s 50% profit loss has investors on the run. The most painful part was the 49% drop in revenue for Meta Reality Labs, due to the slowdown in sales of its flagship product, the search 2. It is not a trust generator. The press had already drawn the knife before the shares fell 20%. Some of the sangria can be found below in our new section, “This Week at Schadenfreude.” Meanwhile, in the rest of the Metaverse, there were three major funding announcements this week,

Resonai announced $20 million in new funding for its Series A, bringing the round to $30 million in total. His program, called you will see, uses computer vision to create a high-precision digital twin that can serve as the operating system for a wide variety of applications. Investors include Meitav Dash, an Israeli institutional investment house listed on the TSE; Blue Square Israel, the second largest retail chain in Israel; and Iranian Ventures.

yoom (formerly Tetavi) announced a $15 million funding round, backed by a long list of music and sports celebrities such as Jimmy Iovine, Finneas O’Connell and Maverick Carter. The company’s volumetric technology enables the creation of photorealistic digital content, popular for bringing live artists to the Metaverse. The new round brings YOOM’s total funding to $50 million.

ForeVR Games raises $10M Series A. The money will allow the company to expand its portfolio of casual multiplayer games such as darts, bowling, cornhole and, soon, billiards. The Series A round, led by Lobby Capital with participation from existing investors including Bessemer Venture Partners and Galaxy Interactive, brings ForeVR’s total funding to date to $18.5 million. Since its launch in July 2020, ForeVR has attracted notable angel investments from Zynga founder Mark Pincus and Twitch founders Emmett Shear and Justin Kan.

HaptX Introduces $4,000 Haptic Gloves for Businesses. The new G1 is attached to a lightweight backpack (the “Airpack”), uses microfluidics to channel air into the gloves, and looks and fits more like a regular glove. Inside the gloves are hundreds of microfluidic actuators that physically move your skin, so when you touch and interact with virtual objects, the objects feel real.

Meta confirms that the Quest 3 VR headset will arrive in 2023. On the plus side, CNet’s Scott Stein reports that a Quest 2 tracking device will arrive “later next year.” Based on the Quest 2 sales slowdown, it is necessary. There will also be more competition next year from Sony Playstation VR 2 and rival Pico (which is owned by Tik Tok parent Bytedance).

Metaverse Startup Burning Galaxy Soft Launches Social Platform UGC Another Earth. Founded in 2018 by Louis Jin, Burning Galaxy raised its $10 million Series A round from Matrix Partners China in early 2022 to launch Another Earth. The new game allows users to build and share architecture, clothing, and experiences. Only on PC right now, Another Earth will soon be available on mobile, Xbox series, PS5, as well as VR and AR.

ZDNet Contributing Editor sheds on the Apple rumors. “An Apple-branded mixed reality headset could be available to developers in 2023. But don’t expect an army of Apple Glassholes to hit the streets for a few more years,” says David Gurwitz. “I just don’t buy the idea that Apple is going to try to hang something that weighs more than a 12-inch iPad from your face.”

Launch of the Zoe No Code content creation app on Quest. It’s like a game engine on training wheels, except it’s collaborative, so teachers and students, or anyone, can build places in real time.

‘Wooorld’ is basically a multiplayer version of ‘Google Earth VR’ for Quest. We’ve been waiting for this to launch on Quest since Quest launched in 2019. The app features pass-through AR so you can explore 3D maps of the world in the comfort of your home, you’ll also be able to move through millions of 360 images. ​Street View, draw anywhere, take photos and save 360 ​​images too, all in multiplayer. $15 at the Quest store.

This week on XR is also a podcast hosted by the author of this column and Ted Schilowitz, Director of Future Technologies at Paramount Global. Our guests this week are Lyon Bentovin, CEO of Glimpse Group (NYSE: ARVR), and Tyler Gates, whose company Brightline Glimpse recently acquired. You can find us at Spotify, itunesY Youtube.

This week on Schadenfreude

‘It’s not good, it’s not fun.’ The Oculus Founder Who Sold His VR Startup To Mark Zuckerberg Criticizes Meta’s Horizon Worlds As A Hobby ‘Project Car’ (Alice Hearing/Fortune via Yahoo News)

Quest Pro review: Impressive hardware with a value proposition that’s a mess (Ben Lang/Road to Virtual Reality)

The metaverse gets an update (Casey Newton/Platformer)

We were not wowed by our first Meta Quest Pro experience (Kyle Orland/Ars Technica)

Meta’s $10 billion metaverse investment “isn’t enough” according to Yat Siu of Animoca Brands (Romain Dillet/Techcrunch)

Losing face: Is this the beginning of the end for Mark Zuckerberg? (James Ball/Spectator)

Mark Zuckerberg might have doomed his metaverse, but Neal Stephenson’s vision is very much alive. (Jesus Diaz/Fast Company)