Facebook is now Meta. Zuckerberg will have NFTs in the metaverse

Facebook has carried out a large-scale rebranding – now the company is called Meta. In this way, she demonstrates a commitment to the creation of the metaverse, which she considers “the next stage in the evolution of social connections.”

“The metaverse is the next frontier. From now on, we will focus on it, and not on Facebook, ”- said Zuckerberg.

From December 1, the company’s shares will start trading under a new ticker – MVRS.

Back in July, the head of the corporation said that Facebook will soon cease to be a company associated with a social network. Instead, she will focus on developing a metaverse powered by VR and AR headsets, mobile devices and game consoles. Speaking about the timing of the transformation, he said, “five years or so.”

Who is developing the Meta and NFT metaverse

The metaverse is being developed by Reality Labs, led by Vice President Andrew Bosworth.

“Today Portal and Oculus can teleport you to another person’s room, regardless of physical distance, or to new virtual worlds […]. But to realize our full vision of the metaverse, it is necessary to create a connective tissue between these spaces, which will remove the limitations of physics, ”- wrote Bosworth.

The metaverse product group will be led by former Instagram VP Vishal Shah. The project will support NFT by making it easier to sell these digital objects and allowing them to be displayed in three-dimensional spaces, he said.

In an interview with The Verge, Zuckerberg stated that Facebook was “the most promising big tech company” in terms of blockchain development. Therefore, the corporation “is very interested and generally supports this space, recognizing that it will play an important role in the future.”

He also noted that in the next decade, people will be spending time “in a fully immersion, three-dimensional version of the Internet.” At the same time, not only owners of Meta hardware will have access to it, but also users of devices from other manufacturers.

Advantages of the Meta and NFT metaverse

To implement its idea, Facebook plans to hire 10,000 engineers in the EU countries. Recruiting will be carried out in Germany, France, Italy, Spain, Poland, the Netherlands and Ireland.

In September, the corporation also announced a fund to fund programs and external research to help it develop the project. In two years, the structure will spend $ 50 million for this purpose.

During a conversation with investors, Zuckerberg stressed that the corporation’s spending on the development of AR / VR directions, the production of related equipment, as well as the development of applications and services will exceed $ 10 billion. He called the project “the successor of the mobile Internet.”

Earlier, the American media in a coordinated manner published a series of investigations concerning the problems of the social network. 17 editions took part in the compilation of “The Facebook Papers”, at their disposal were the internal documents of the corporation. The latter were revealed by her former employee Frances Haugen.

Facebook was accused of negligent moderation of hateful posts and a lack of understanding of its own algorithms, due to which the posts of people of one race took priority over others in the feed. According to journalists, the management of the corporation allegedly interfered with the work of the social network, giving privileges to certain political publications.

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