InstaForex

September 28, 2021

Facebook Allocates More Than RM209 Million To Generate Metaverse

 The world's largest social media platform, Facebook is said to allocate $ 50 million (RM209.15 million) over two years to realize the dream of becoming a metaverse firm.


This is not a new thing because since June, Facebook CEO, Mark Zuckerberg has hinted that he wants to make Facebook a metaverse company before announcing the XR Program and Research Fund in support of this project.


The $ 50 million initiative also involves several partners including the Organization of American States, Women in Immersive Tech, as well as African organizations such as Electric South, Africa No Filter, and Imisi3D.


Facebook will also be in talks with a line -up of researchers from Seoul National University, The University of Hong Kong, and the National University of Singapore.



In a nutshell, a metaverse is an online shared space where users are coexisting in the form of 3D avatars and can communicate with each other.


Among the closest examples of entertainment media that have applied the metaverse are: Snow Crash, Ready Player One, as well as Ethereum, Decentraland and CryptoVoxels -based platforms.


Metaverse can be seen as an open opportunity to new gaming and social experiences, including driving a change in the nature of work and accommodating new digital economic opportunities to consumers around the world.


For simplicity, it resembles how the features of decentralized aunotomy organization (DAO) are capable of replacing conventional companies.