Facebook Investing a Total of $500 Million into VR Software

250 million has already been invested with another 250 to go towards future investment.

The first keynote of Oculus Connect 3 has kicked off, and one of the first speakers to take the to stage was Mark Zuckerberg, the CEO of Facebook who has bought Oculus. During the impressive showcasing of the types of software that can be made with the Oculus Rift, Zuckerberg announced the incredible amount of investment being put into the creation of software.

Zuckerberg announced that Facebook has already invested $250 million (USD) into “games and media and more”, and there is a plan to invest another $250 million into future investments in order to help the community create the best quality applications they can.

Oculus Investment OC3

The software that Zuckerberg showcased before announcing the investments was of a social hang out type of environment, playing into his love of person-to-person interaction in VR. This wasn’t named, but the experience showcased progressive features such as answering Facebook calls as your own avatar, playing games, drawing out objects that you can use, and even taking selfies that you can upload to Facebook.

OculusAvatars

For more on the latest at Oculus Connect 3 and all of the announcements to come, as well as all the news, updates, and features in the world of VR, make sure to check back with VRFocus.

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