Facebook investing $50 million to invent metaverse
Facebook made strides in both augmented reality and virtual reality with its Facebook Reality Labs. Now the social media platform wants to create virtual spaces and invent its own metaverse.
Facebook plans to invest $50 million to beget a metaverse that it says will be “a set of virtual spaces where you can beget and explore with other people who aren’t in the same bodily space as you.” The money will be spent over two ages through its XR Programs and Research Fund, with plans to work with new organizations, nonprofits, academic institutions and governments. A metaverse would need more than just Facebook to beget it, the company says, and it could take 10 to 15 ages to bring this idea to fruition.
Along with laying out its plans for creating a metaverse, Facebook says it will build the virtual spaces responsibly. This includes keeping individuals’ privacy intact by minimizing the amount of data used, keeping country online safe, giving individuals choices for a thriving digital economy and executive sure the technologies created are inclusive and accessible.
This new venture into virtual spaces by Facebook comes a week when the social media titan named a new first technology officer. Andrew Bosworth, the current vice president of augmented and virtual reality, will be the CTO starting in October.
