Tim Cook Hints at Apple’s Metaverse Plans

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Tim Cook Hints at Apple’s Metaverse Plans
29 Jan 2022
6 min read

News Synopsis

With the continuous rise in the popularity of metaverse, most of the major tech companies have announced their plans towards the web3. Apple is the latest edition in such companies as the CEO Tim Cook has said that the company sees potential in the metaverse and accordingly.

Tim Cook said that Apple is in the business of innovation and is always exploring new and emerging technologies. He also said that the company has more than 14,000 ARKit applications in the App store that provide an incredible AR experience to millions of users.

AR is the technology that allows a person to get immersed in the metaverse. Metaverse is the term used to describe the virtual world where people can create their avatars and interact with each other.

The term and the concept blew up after Facebook rebranded itself to Meta for the development of the metaverse. Goldman Sachs analyst Eric Sheridan has said that the virtual world could be worth $8 trillion echoing Morgan Stanley’s prediction that monetization of consumers in the USA alone would be delivering the payoff.

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