Facebook Metaverse | Nexus NFT News

Facebook Metaverse | Nexus NFT News

The Facebook Metaverse is almost here!

Mark Zuckerberg, Facebook CEO has been prominent in the hype surrounding “The Metaverse,” a virtual reality version of the internet that the tech giant considers the future.

He stated that Facebook would create an interconnected set of maximalist experiences, straight from sci-fi, a virtual world called The Metaverse. Think Ready-Player-One V1.0

The metaverse also called “meta-universe” is a digital realm in which science fiction and the real world merge. It allows people to communicate with and move among virtual worlds.

It is a termFacebook Metaverse that refers to products or services that use virtual reality or augmented reality. New augmented reality technologies will allow players to interact without bulky headsets.

Facebook announced Monday that it will hire 10,000 workers from the European Union to create the Facebook Metaverse.

He stated that divisions of the company that focus on products for creators and communities would be more closely aligned to achieve this vision in a distant address to employees. “We all share the common goal of bringing the metaverse into being.


“The Metaverse is having a moment.” Tim Sweeney, CEO of Epic Games, had been speaking for months about his desire and determination to contribute to the metaverse.

Matthew Ball, a venture capitalist wrote an essay in January 2020, which identified key features of a Metaverse. A bill package passed by Congress could force Facebook’s spin-off of Instagram and WhatsApp, limit its ability to make future acquisitions, and offer services related to its hardware products.

Even if US tech regulations fail to materialize, which historically has been a strong bet, the existence of a vibrant metaverse will raise questions about how virtual space is managed, its contents, and the effects it would have on our collective perceptions of reality. The 3D version could prove even more challenging to navigate.

What is the Facebook metaverse?

This term refers to cyberspace that is similar to real life and where users can interact with avatars. The term was first used by Neal Stephenson in 1992’s science-fiction novel Snow Crash. It’s the merging of virtual, enhanced, and physical realities in an online space.

Many video game communities have started meta-universes. Roblox, a platform hosting a variety of games created by teens, and Fortnite (a survival-shooter game with 350 million users) are two examples.

“Social technology at its best”

Facebook announced that it would create a product team to support metaverse-related projects in July 2021. 

Zuckerberg stated that he expected people to see him as a metaverse company in July.

“In many ways, the metaverse is the ultimate expression of social technology.”

Facebook, the largest social media network, has made substantial investments in virtual reality and augmented reality. It has acquired hardware such as the Oculus VR headset and is currently developing AR glasses and wristband technology. It also purchased a number of VR gaming studios, including BigBox VR. This company now employs more than 10,000 people.

Zuckerberg said that he believes it’s sensible to invest in the future of computing platforms.

He stated in a July Facebook post that he believed the “metaverse”, which will replace the mobile web, and that the next step was to create the product group.

What will the Facebook Metaverse look like?

Zuckerberg stated that the Metaverse’s defining characteristic is the “sense of being there with someone else or somewhere else”.

The Facebook Metaverse will be available from all devices and apps, according to him. Users will log in to the Metaverse to create, play, work and share experiences with their friends. They can use it as they do the Internet, but also to do things that aren’t possible on the Internet, such as dancing. Zuckerberg noted that avatars and digital objects would be central to the Metaverse’s users’ expression.

Is Facebook the only one building the Metaverse?

It is important to note that the Metaverse was not an entirely new concept created by Facebook. It is a popular theme in science fiction. Facebook is just now using this terminology, but it has been working with Oculus and other investments in virtual and augmented realities.

During Facebook’s second-quarter earnings call, Zuckerberg stated that no company can create the Metaverse. The Metaverse for Facebook will be a new ecosystem that uses new protocols and new payment systems. The company has asked an internal group to create its Metaverse. Zuckerberg views it as a social product that hundreds of millions can use.

Zuckerberg answered a question about interoperability by saying that the “virtual world” would be available on all devices and headsets and that every company will have the chance to create experiences for the Facebook Metaverse. Does that sound like a pipedream? It could be. Competitors can create their own metaverses. Microsoft, Nvidia, and Epic Games all have their own versions.

Andrew Bosworth, Vice President of AR/VR at Facebook, stated that the Metaverse was already here in a Facebook post. It is a “collection of digital worlds with their own physics that determine what’s possible within each one.” He said that Facebook must create the “connective tissue” between these spaces and remove the limitations of physics to realize its full vision of the Metaverse.

Facebook is now changing its name

According to the Verge, the company will announce its new name next week. The Verge cited a source who had direct knowledge of the matter. According to the publication, Facebook new aim is to be more than just social media.

Facebook (FB), a spokesperson for the company, stated that they do not comment on speculation or rumors in response to a question regarding the possible name change.

Facebook owns Instagram, WhatsApp and its main social media platform. The name change could place the three major platforms under a single brand similar to Google’s structure, which is owned by Alphabet.

Metaverse on Facebook

Who’s in charge of Facebook Metaverse Group?

These executives are part of the Metaverse Facebook group:

Vishal Shah, who is from Instagram, leads the whole effort.

Vivek Sharma, a Facebook Gaming employee, will lead the Horizon teams.

Jason Rubin, who is a veteran of Oculus and Facebook Gaming, will be leading the content team.


What are Facebook’s plans for the Metaverse?

Zuckerberg believes that it is crucial for Facebook to shape the next Internet. While he believes that there will be many successful Facebook Metaverse players, he hopes it still reflects Facebook’s mission and business model. He said that the company is making many of the necessary investments in fundamental technology to enable them to deliver the parts they want.

He also said to The Verge that he believed that we would transition from being primarily social media companies to becoming metaverse companies in the next five to six years.

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