Meta pays metaverse programmers well

Meta, the parent company of Facebook, Instagram, and the WhatsApp messaging service, has been contemplating expansion into the metaverse for a while. However, it has suffered billions in losses since its inception.

According to a recent report from The Wall Street Journal, Meta’s programmers working on the company’s virtual reality suite can earn between $600,000 and $1 million in total compensation.

According to the report, the salaries of Meta’s metaverse developers were obtained from anonymous “people familiar with the matter.”

According to reports from the start of the year, the metaverse-building division of the company, Reality Laboratories, lost $13.7 billion in 2022. It was the division’s greatest annual loss ever recorded.

Mark Zuckerberg, co-founder, and CEO of the company, have stated

that the company has no intentions to alter its long-term vision for the metaverse. In fact, at the beginning of February 2023, a magistrate in the United States granted Meta permission to acquire a virtual reality company.

Before that ruling, the Federal Trade Commission filed a lawsuit against Meta and Zuckerberg in an attempt to thwart their “ultimate aim of possessing the entire “metaverse.”

Recently, two U.S. senators penned a letter to Zuckerberg urging him not to grant adolescents access to the Horizon Worlds metaverse platform. They cited “significant hazards” and referred to it as a “digital environment replete with potential harms.”

The chief of commerce and financial technologies at Meta tweeted on March 13 that the company was gradually ending support for nonfungible tokens on Facebook and Instagram. The executive stated that the decision was made to “focus on other methods to support creators, individuals, and enterprises.”