Meta executives maintain great faith in the potential of the Metaverse despite heavy losses within their dedicated division. Chris Cox, product manager for the social network, is confident that Metaverse will surpass smartphones in importance in the coming years.

Admittedly, the Metaverse is failing to appeal to the general public as more and more companies from around the world are launching there. Meta, the center of the Metaverse, has suffered huge losses as proof of that.

We found out in April 2022 that Meta had lost a whopping $3 billion. As a result of his significant spending on Reality Labs, a part of the Metaverse. Also, keep in mind that only the first quarter of 2022 was affected by these losses. The deficit is over $10 billion…