Facebook parent company Meta is in talks with Magic Leap to sign a multi-year agreement for augmented reality purposes, which could include a “metaverse” in which Meta has invested heavily in recent years.
Reportedly, Meta wants to enlist the help of Magic Leap to help build “mainstream” augmented reality products, Financial Times reports. For example, Meta will investigate the possibility of licensing intellectual property and manufacturing contracts in North America. According to insiders, the collaboration will not result in a common headset.
On the other hand, Magic Leap can produce different components that are needed to build Meta meta visualizations. The company makes augmented reality lenses and supplies associated software, among other things. According to former employees, waveguides are Magic Leap’s “biggest asset”. This technology allows thin glass to display realistic images of varying depths in front of the user’s eyes.
Meta recently cut a slew of posts, including in the section working on the metaverse. According to The Verge Another round of layoffs is coming. The company’s massive investment in the metaverse has been met with skepticism thus far. For example, the Horizon Worlds metaverse platform is still very little used. In October 2022, the company released the Meta Quest Pro headset with a suggested retail price of €1,800.
Magic Leap was founded in 2010 and introduced its first augmented reality headset in 2017. Due to meager sales numbers, the company has shifted its focus from consumer to enterprise applications. Last year, the Magic Leap 2 debuted with a starting price of $3,300.
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