Meta (formerly Facebook) officially declared its entry into the metaverse space last year with the Reality Labs division. Its announcement had understandably triggered the popularity of metaverse projects and their tokens during this time, as a lot went on to rally to billions of dollars in market cap. However, while Meta had been able to trigger positive growth for other metaverse projects, it has been unable to do so for itself as it reports another quarter of massive losses. Meta’s Reality Labs Records Losses Since Meta’s entry into the space via its Reality Labs division, the tech giant has been unable to secure any positive returns. Through its various quarters since then, the metaverse division has reported losses after losses which have now run into double-digit billions. In the most recent report for the 3rd quarter of 2022, the Meta metaverse division reported that it lost $3.6 billion. This will be the division’s highest quarterly loss to date but it follows the established trend of losses since inception. Related Reading: Dormant Ethereum Whale Rouses As Crypto Market Sees A Revival For the same time period in 2021, Reality Labs reported a loss of $2.63 billion. Then in the second quarter of 2022, the division reported a loss of $2.8 billion. It now brings the total losses of the division to $9.43 in a one-year period. Reality Labs’ Q3 2022 revenue came out to a total of $285 million, which is the lowest revenue fig...
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