Meta: The owner of Facebook has started a virtual reality subscription service

Meta Virtual Reality headset

In an effort to turn that area of its business profitable, Facebook owner Meta has introduced a virtual reality (VR) subscription service.

Two new games will be made available to paying users each month, according to Meta.

Instagram's parent company reported a $4 billion (£3 billion) loss at its VR division for the first three months of the year.

The tech behemoth Apple, which unveiled its eagerly awaited mixed-reality headset this month, is one of the companies that compete with Meta.

The company announced on Monday that its Quest 2, Quest Pro, and upcoming Quest 3 headsets are all compatible with the Meta Quest+ service, which costs $7 point 99 per month or $59 point 99 for an annual subscription.

With the help of VR headsets, people will be able to play games, work, and communicate in a virtual environment in the "metaverse," which will be created in 2021 by Meta's CEO Mark Zuckerberg.

We want to base our work and our identity on what we're striving for, Mr. Zuckerberg said. "Over time, I hope that we are seen as a metaverse company," he added.

Zuckerberg referred to artificial intelligence as "the key to unlocking the metaverse" when Meta unveiled several ambitious AI projects in February of last year.

The business beat market expectations by reporting a $5.7 billion profit for the first three months of this year.

While making VR headsets and other products, its Reality Labs division reported a $4 billion net loss for the quarter.

In its first significant hardware launch in nearly a decade, Apple earlier this month unveiled the Vision Pro mixed-reality headset.

The cost of Apple's headset, which will go on sale in the US in early 2019 is $3,499.

Compared to other headsets that are currently on the market, that is a significant upgrade. The price range for Meta's VR headsets is $299.99 to $999.99.

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