Meta has been in talks with AR company Magic Leap for a multi-year agreement to continue investing billions of dollars in building the Avatar metaverse

ChainCatcher news, according to the Financial Times in the UK, Facebook's parent company Meta is in talks with augmented reality startup Magic Leap for a multi-year agreement. Meta will continue to invest billions of dollars to build its Avatar metaverse world.

According to sources familiar with the early discussions, Meta is exploring ways for Magic Leap to provide intellectual property licensing and contract manufacturing in North America to help build mainstream AR products. Magic Leap produces custom components, including high-tech lenses and related software, which are key technologies that may be needed to build the metaverse. (source link)