Facebook to Invest US$50 Million to Build the Metaverse

Facebook to Invest US_50 Million to Build the Metaverse

Facebook will contribute US$50 million to work with organizations to safely construct the so-called metaverse, a digital world in which people can travel and communicate in a virtual environment using a variety of devices.

Facebook, the world’s largest social network, has put a lot of money into virtual reality and augmented reality, building devices like the Oculus VR headsets and working on AR glasses and wristbands. The company has been chastised for its negative impact on online safety.

Facebook says the money will be invested globally over two years by the new XR Programs and Research Fund to ensure that metaverse technologies are developed in a way that is inclusive and empowering.

To Read more: reuters.com

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