I don't know if you're conflating 'Metaverse' with 'NFTs' or something, but in Meta land it's very much a VR/AR term.

If you're interested in where they're currently focusing their spending and the timelines for return on investment, the recently leaked memo isn't a bad place to start https://www.uploadvr.com/meta-cto-to-staff-leaked-memo-2025-...