Despite operating losses in 2022 for the Reality Labs business, Meta Inc (NASDAQ:META) CEO Mark Zuckerberg reassured that the company is sticking to its long-term goals for Metaverse, leading to a surge in the prices of associated tokens.
What Happened In the last 24 hours, Decentraland (CRYPTO: MANA) rose by 6.40% trading at $0.80.
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The Sandbox (CRYPTO: SAND) surged 4.77% at $0.76, Axie Infinity (CRYPTO: AXS) gained 3.71%, at $11.33 and Enjin Coin (CRYPTO: ENJ) was up 3.30%, trading at $0.47, in the last 24 hours.
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Meta released Q4 earnings on Wednesday showcasing that the Reality Labs business had accumulated $13.7 billion in losses in 2022, as well as $4.3 billion in losses in the fourth quarter — the largest quarterly loss ever recorded for the department.
During the earnings call, Zuckerberg maintained his firm's focus on the firm’s metaverse strategy. “None of the signals that I've seen so far suggest that we should shift the Reality Labs strategy long-term,” he said.
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