A major tech giant is reportedly slashing its metaverse investment by nearly a third, according to recent industry reports. The company plans to reduce spending on its virtual reality and metaverse initiatives by up to 30%, signaling a strategic shift in priorities.

This move comes as the broader tech sector reassesses its Web3 commitments amid changing market conditions. The budget cut could impact ongoing metaverse projects, virtual reality hardware development, and related infrastructure investments.

Industry observers note this reflects growing caution around long-term metaverse bets. While the technology remains promising, companies are now balancing innovation ambitions against near-term profitability pressures. The decision might influence how other major players allocate resources to similar immersive technology projects going forward.

What's your take? Is this a temporary pullback or a broader signal about metaverse viability?