"A company like that doesn't just do that because they think it's going to be something," he adds. The billionaire's vision of virtual worlds, along with the $10 billion he's spent on metaverse development over the past year, "really struck me," Sorrels says. He's made that commitment because of one man: Zuckerberg. an incredible amount of personal investment time-wise," he says. ![]() ![]() Sorrels declined to reveal exact figures, but notes that his minimal expenses mostly included paying a developer to help build the virtual experience. The Soapstone isn't Sorrels' primary source of income: The Grand Rapids, Michigan-based comedian still performs real-life comedy shows under the moniker " The Unemployed Alcoholic."īut he does make some money from the metaverse. The performers don't receive a cut, even from the applause credits. Sorrels shares the proceeds of any in-app purchases with Meta, which can take up to a nearly 50% cut of those sales. People can also pay $9.99 to get their username permanently added to the Soapstone's virtual "supporter wall." 'Good engagement' and a belief in ZuckerbergĪudience members use Meta's recently added monetization tools to make in-app purchases, including what Sorrels calls "applause credits" - a sort of pat on the back for performers. Those dismal numbers haven't deterred the enthusiasm of creators like Sorrels. (Meta did not immediately respond to CNBC Make It's request for comment.) companies by valuation amid a streak of three straight quarters of revenue declines. On Thursday, CNBC described Meta's "stunning collapse" - one that's seen the company fall out of the 20 largest U.S. Horizon Worlds has reportedly struggled to attract and retain users: It currently has fewer than 200,000 monthly active users, less than half its goal of 500,000, according to The Wall Street Journal. Zuckerberg said he expects those losses to keep piling up as he continues the work of building out the metaverse, even as investors' concerns mount over a lack of progress. Meta's latest quarterly earnings report revealed that the company's metaverse division has lost $9.4 billion this year already. ![]() "It's been an incredibly positive experience, and one of the best in my life," says Aaron Sorrels, a 47-year-old professional comedian who opened a virtual comedy club in Meta's flagship metaverse platform, Horizon Worlds, last year.
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