The latest Web3 trends and news from June 2023 by Horizon's Chapter & Verse.
A POV by Horizon’s Web3 division, Chapter & Verse
After years of delays, Apple introduced its headset of the future, the Vision Pro. Apple calls it the arrival of the “age of spatial computing,” where it blends the digital and physical worlds for the user. And while it’s not a headset that’s right for everyone, it will unlock opportunities for all brands and immersive content creators moving forward.
In the immediate term (next calendar year), we do not believe this product will be meaningfully adopted due to initial hardware cost alone. VR Headset sales (Forbes) were down 2% year-over-year, falling to $1.1 billion in December 2022, and that considers a much more cost-effective existing VR marketplace. Vision Pro comes in at the top of the price scale, ~10x a Quest 2 and ~3X its top headset (Quest Pro). In an economic climate where people are watching their spend, with experiences and travel gaining steam vs where we were 1.5+ years ago, it will take time for consumers to open their wallets to Apple’s device.
However, you always beget the tiered “Good, Better, Best” pricing model with Apple, so we expect to quickly realize a more consumer and wallet-friendly Vision Pro. We are in the age of Web 2.5, the space between Web 2 & Web 3, that acknowledges that brands “are” a central authority that enjoys a community of practice, passion, or interest. Apple’s Vision Pro can become a conduit to existing applications and platforms consumers know and love, e.g. anything currently available in their Apple devices; a bridge between the former and new experiences that can be unlocked in gaming, commerce, and beyond.
To read the full POV from Horizon’s Web3 division, Chapter & Verse, click ‘Download PDF’ below.