Meta Platforms has launched Meta Quest+, a subscription-based service for its virtual reality (VR) headsets to shape a nascent but high-investment market.

Chief Executive Mark Zuckerberg, in a broadcast channel on the social media app Instagram, said the Meta Quest+ subscription will be available from Monday at $7.99 per month, or $59.99 annually, for its Quest 2, Pro, and soon for Quest 3.

With its $3,499 augmented reality headset, the Vision Pro, Apple has entered the space dominated by Meta. Even so, the most expensive headset from Meta is three times more expensive than Apple’s headset, Reuters reported on Monday.

Meta in March had cut the prices of its headsets as its bold bets on the metaverse failed to make a big splash.

The social media company’s flagship VR headset Meta Quest Pro is currently priced at $999.99, down from its launch price of $1,499.99, and Quest 2 is being sold for $299.99, according to Meta’s website.