In a research paper Tuesday, Goldman Sachs noted that the metaverse – a digital world formed by combining virtual reality, augmented reality, and the internet – is dependent on a transition to new “immersive hardware interface platforms.”
Because valuable goods already exist and more hardware is expected to be developed soon, the bank is more optimistic about VR than AR.
As per the article, the race for virtual reality is between Apple and Meta. Apple is undoubtedly aiming to expand its ecosystem, and Meta hopes to entice consumers with “attractive hardware pricing and compelling experiences,” according to the company.
According to the bank, Meta Platforms’ Quest Pro product is expected to be released this fall, and Apple’s product will be released in early 2023.