Facebook Metaverse

The new XR Programs and Research Fund will invest the money globally over two years to ensure metaverse technologies are built in a way thats inclusive and empowering Facebook said. Facebooks renaming was tipped by The Verge to reflect a goal of building a so-called metaverse described by the social media company in a recent blog as a new phase of interconnected virtual experiences powered by AR and VR.

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Facebook which already employs some 60000 people announced a massive expansion of its workforce in an effort to get a head start in building the metaverse.

Facebook metaverse

. Facebook faces something of an onslaught of regulatory attention with. Plus Facebook has its own Oculus VR gaming platform which could prove to be a gateway into this metaverse. The Facebook name change which Chief Executive Officer Mark Zuckerberg plans to talk about at the companys annual Connect conference on Oct. The company already revealed plans to hire 10000 staff in Europe to boost the effort.

Today Facebook announced the XR Programs and Research Fund a two-year initiative to fund both its own. 28 but could unveil sooner is meant to signal the Menlo Park California. Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta in an effort to encompass its virtual-reality vision for the future what Zuckerberg calls the metaverse. Facebook co-founder and CEO Mark Zuckerberg said in June that the social media giant is on a path to become a metaverse company Now the firm is putting its money where its mouth is revealing plans to spend 50 million over the next two years to help bring the metaverse to life.

A digital world where we spend most of our time interacting with friends where virtual assets have higher importance where the rules will be entirely different. Of course Facebook would want this. Facebook is planning to change its company name to reflect its focus on building the metaverse The Verge reported citing a source with direct knowledge of the matter. Facebooks goal here is to make sure it builds a Metaverse thats compatible with other services as well as one that has an eye toward inclusivity privacy safety and economic opportunity.

The company says it aims to hire. Facebook Inc NASDAQFBs metaverse a digital world project will see the help of 10000 people the company is planning to hire in the European Union in the next five years. The metaverse is critical for Facebooks future and it is not hard to imagine why. Facebook announced plans to hire 10000 people in the European Union to build the metaverse a virtual reality version of the Internet that the tech giant sees as the future.

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