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Bored Apes’ creative director joins Meta’s Reality Labs
The post Bored Apes’ creative director joins Meta’s Reality Labs appeared on BitcoinEthereumNews.com. Jeff Nicholas, the former creative director at Yuga Labs for the Bored Apes Yacht Club (BAYC), has expressed his excitement on X, noting that he will join Meta’s Reality Labs as an executive producer. In his new role at Meta, he will focus on developing innovative virtual reality (VR) entertainment experiences. This marks his first position with a major tech company, as Meta currently ranks as the world’s seventh most valuable company by market capitalization. Source: Companies Marketcap Nicholas noted that he was quite thrilled to dive back into VR with the amazing team as they explore the future of better entertainment experiences. He is expected to begin in September. Meta Reality Labs lays off senior managers amid cost-cutting measures Meta’s ambitious plans to develop the metaverse are costing the company billions of dollars a quarter. As part of the company’s second-quarter earnings report on Wednesday, Meta’s Reality Labs unit, which houses augmented and virtual reality technologies, recorded an operating loss of $4.48 billion. Nicholas’s entry into Meta comes as the firm tightens its purse strings for Reality Labs, its division dedicated to VR, augmented reality (AR), and the metaverse. According to a report by The Information, the tech firm’s hardware teams within Reality Labs have been asked to cut spending by nearly 20% from this year through 2026. This follows a series of layoffs over the past year, which heavily impacted middle and senior management, including over a dozen vice presidents and directors last month. Meta has placed a long-term bet on the metaverse, investing over $40 billion. This project is very significant to the firm. In fact, earlier this year, the firm’s CFO emphasized the potential $1 trillion opportunity in AR and VR, indicating the scale of the ambition behind Reality Labs. Currently, the tech firm offers its…
The post Bored Apes’ creative director joins Meta’s Reality Labs appeared on BitcoinEthereumNews.com.
Jeff Nicholas, the former creative director at Yuga Labs for the Bored Apes Yacht Club (BAYC), has expressed his excitement on X, noting that he will join Meta’s Reality Labs as an executive producer. In his new role at Meta, he will focus on developing innovative virtual reality (VR) entertainment experiences. This marks his first position with a major tech company, as Meta currently ranks as the world’s seventh most valuable company by market capitalization. Source: Companies Marketcap Nicholas noted that he was quite thrilled to dive back into VR with the amazing team as they explore the future of better entertainment experiences. He is expected to begin in September. Meta Reality Labs lays off senior managers amid cost-cutting measures Meta’s ambitious plans to develop the metaverse are costing the company billions of dollars a quarter. As part of the company’s second-quarter earnings report on Wednesday, Meta’s Reality Labs unit, which houses augmented and virtual reality technologies, recorded an operating loss of $4.48 billion. Nicholas’s entry into Meta comes as the firm tightens its purse strings for Reality Labs, its division dedicated to VR, augmented reality (AR), and the metaverse. According to a report by The Information, the tech firm’s hardware teams within Reality Labs have been asked to cut spending by nearly 20% from this year through 2026. This follows a series of layoffs over the past year, which heavily impacted middle and senior management, including over a dozen vice presidents and directors last month. Meta has placed a long-term bet on the metaverse, investing over $40 billion. This project is very significant to the firm. In fact, earlier this year, the firm’s CFO emphasized the potential $1 trillion opportunity in AR and VR, indicating the scale of the ambition behind Reality Labs. Currently, the tech firm offers its…
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