Facebook wants to bank on Virtual Reality!

Facebook founder Mark Zuckerberg announced last week that his company’s platform users view well over eight billion videos a day. It is certainly a big number, and so the company has decided to venture into the market of Virtual Reality.

As a first futuristic stepping towards virtual reality, Facebook bought Oculus Rift, the maker of virtual reality goggles in 2015 for $2 billion to capitalize on that potential. And at the end of 2015, Facebook announced enhancement of “360 video”, which is shot with a special camera and rendered so a viewer can manipulate the image to see moving action in every direction.

Facebook started its business journey with text, then photos showed up and now it is flowing into videos. As phones are enabled with great cameras, users are capturing more of their lives in a real time way, much more expressively than a photo and a caption.

Presumably, some of those videos will hold the attention of high value advertisers. And this is where; Facebook wants to build a network out of these videos which can handle the load of dense video to run a big virtual reality system

Already, Facebook is adept at open sourcing, and has recently held an all-day event for about 300 engineers from video related companies like Netflix, Yahoo, Akamai, and Youtube. At this event, Facebook disclosed its plans on virtual reality, streaming and artificial intelligence related to video.

Facebook is also looking at ways to make its 360 technology cheaper and more accessible, possibly even within a smart phone. The social networking giant also wants to get an even bigger global audience by lowering the cost of connecting to the Internet.

While computers run lots of open source hardware and software, related gear in telecommunications has tended to be proprietary and expensive. But Facebook wants to reduce this disparity by offering equipment with low expense.

Let’s hope the world’s number one social media giant succeeds in its stepping.

Virtual Reality Definition- Virtual Reality is an artificial environment created by software and is presented to the user in a 3D environment. The content must be viewed in special Goggles and the content is displayed on the screen furnished inside the goggles. It is similar to that of a 3D goggles. But the difference is that in Virtual Reality, content is screened and viewed on the screen of the goggles. And in the case of 3D goggles, the content is screened on the TV or theatre screen and the user needs to view the content through the goggles to get 3D viewing experience.

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