Meta spent billions of dollars unsuccessfully trying to make virtual reality catch on with consumers. As it shifts its metaverse bet toward smart glasses, investors will be watching to see how the public responds.

The social media company is set to unveil its most advanced smart glasses yet on Wednesday at its Connect annual event. The glasses, internally codenamed Hypernova, feature a small display that can be controlled via hand gestures through a wristband that utilizes neural technology, CNBC reported in August.

A promotional video of the device reportedly appeared on Meta's YouTube page on Monday but was later removed.

The device, expected to cost $800, builds upon Meta's partnership with EssilorLuxottica , which spawned the AI-powered Ray-Ban Meta smart gla

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