In news- Facebook announced that it is planning to rebrand its family of firms around the metaverse.
Facebook’s plan with metaverse
- Facebook has announced plans to invest $50 million as part of its efforts to create a ‘responsible’ metaverse.
- It also plans to create nearly new 10,000 jobs in Europe as part of its ‘metaverse’ ambitions.
- According to Facebook’s own definition the metaverse will let users hang out with people who are not in the same physical space.
- It further added that one’ll be able to hang out with friends, work, play, learn, shop, create, and more.
What is Metaverse?
- The idea follows from the cult science fiction novel Snow Crash by Neal Stephenson published in 1992, where the phrase metaverse was first used.
- It generally refers to shared virtual world environments which people can access via the internet.
- The term can refer to digital spaces which are made more lifelike by the use of virtual reality (VR) or augmented reality (AR).
- A simplistic way to look at the metaverse is as a parallel, virtual, world where users can have different identities, possessions and characters.
- It is supposed to be the post-Internet world, a decentralised computing platform which is continuous, and live.
It is being envisioned as a new world order really, where your services could be offered virtually in exchange for other virtual assets, or Cryptocurrencies.