Meta is set to announce its first consumer-ready smart glasses, codenamed Hypernova, at the upcoming Connect conference, along with a wristband that enables gesture control. The glasses will feature a limited color display and are expected to retail for around $800, while the wristband utilizes technology from Meta's CTRL Labs to interpret electrical signals from hand movements. Despite the advancements, Meta is managing expectations for sales due to the added complexity of the new features.