The new virtual reality headset, the Quest Pro, was unveiled at an online event.
The price of Meta's current headset, the Quest 2, is almost four times the price of the new one, the Quest Pro.
There is a curved battery around the head strap at the back.
Users can see their real environment around the periphery of the screen with the headset.
Digital content can be seen in the real world with mixed reality capabilities.
Mixed reality is the next major step for virtual reality.
The device's high launch price made it more suited to high-end, enthusiast and possibly enterprise users, according to an analyst.
As Meta seeks to position mixed and virtual reality as a work tool as well as a form of entertainment, the office platform Windows365 will be available on it.
A metaverse is a virtual world in which people can both conduct their everyday lives and explore fantasy virtual spaces.
Tech firms are building their own metaverses, but they are likely to be several years away.
There have been reports of violence and sexual assault within the virtual reality world that Meta has created.
Andrew Bosworth has said that it will be a while before there are enough headsets.
Paolo Pescatore said it felt like the tech was being tracked into peoples' hands. He said there was no need to rush.
The virtual reality version of the video game Resident Evil 4, which made $2 million in its first 24 hours, was one of the most talked about virtual reality apps.
Iron Man and Among Us are two new virtual reality gaming titles. There was no new information on the long-awaited virtual reality Grand Theft Auto: San Andreas.
According to Andrew, the most popular app on the store was YouTube.
The vice president of the metaverse said the ultimate goal was to feel like any other social experience.
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