Meta: Facebook owner launches virtual reality subscription service
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To make virtual reality (VR) more profitable, Facebook owner Meta has launched a subscription service.

According to Meta, paying users will get access to two new games per month.

In its VR division, Instagram’s parent company lost $4bn (£3.1bn) in the first three months of the year.

In this month’s announcement, Apple unveiled its highly anticipated mixed-reality headset.

The company said Monday its Meta Quest+ service, which costs $7.99 a month or $59.99 a year, works with its Quest 2, Quest Pro, and upcoming Quest 3 headsets.

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Mark Zuckerberg revealed plans for a “metaverse” in 2021, which would allow gamers, workers, and communicators to communicate in a virtual environment, often using VR headsets.

“I hope we’ll be viewed in the future as a metaverse company, and I want our work and identity to reflect that,” Mr Zuckerberg said.

Mr Zuckerberg described artificial intelligence as the key to unlocking the metaverse in February last year, when Meta unveiled several ambitious artificial intelligence projects.

Profits for the first three months of this year exceeded market expectations by $5.7 billion.

The company’s Reality Labs division, which produces VR headsets and other products, reported a net loss of $4 billion for the quarter.