Meta, the company that owns Facebook, has started a virtual reality (VR) subscription service in an effort to turn that area of its operations profitable.
According to Meta, subscribers will have access to two new games each month.
The Instagram parent company's VR division posted a $4 billion (£3 point 1 billion) loss for the first three months of the year.
Technology giant Apple, which this month unveiled its eagerly awaited mixed-reality headset, is one of the companies that compete with Meta.
The company declared on Monday that its Quest 2, Quest Pro, and upcoming Quest 3 headsets are all compatible with the Meta Quest+ service, which costs $7/month or $59/year.
The "metaverse," a virtual environment where people can play games, work, and communicate, will be built, according to plans presented by Meta's CEO Mark Zuckerberg in 2021.
According to Mr. Zuckerberg, "I hope that we are recognized as a metaverse company over time and I want to anchor our work and our identity on what we're building towards.".
Zuckerberg referred to AI as "the key to unlocking the metaverse" when Meta unveiled several ambitious artificial intelligence projects in February of last year.
For the first three months of this year, the company reported a profit of $5.7bn, exceeding market expectations.
The company's Reality Labs division, which makes VR headsets and other products, however, reported a $4 billion net loss for the quarter.
As its first significant hardware launch in nearly a decade, Apple unveiled the Vision Pro mixed-reality headset earlier this month.
The cost of Apple's headset, which will be made available in the US early next year, is $3,499.
That is a lot more than other headsets that are currently on the market. The cost of a Meta VR headset ranges from $299.99 to $999.99.
