Meta (formerly Facebook), which laid off more than 11,000 employees in 2022, is struggling to win and keep users on its virtual reality (VR) social platform called Horizon Worlds, its biggest gamble to fulfill its $10 billion metaverse dream. .

In fact, Apple CEO Tim Cook has said that while many tech companies are bullish on the metaverse, he’s not sure if the average person can understand what the metaverse really is.

However, the industry remains bullish on the metaverse. The global metaverse market is reportedly expected to reach $996 billion by 2030, registering a compound annual growth rate (CAGR) of 39.8%.

The size of the metaverse market reached a value of $22.79 billion in 2021, according to GlobalData, a leading data and analytics company.

“As India prepares…