Facebook made strides in both augmented reality and virtual reality with its. Now the social media platform wants to create virtual spaces and build its own “metaverse.”
Facebook will invest $50 million to create a “metaverse” that it says will be “a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.” The money will be spent over two years in its XR Programs and Research Fund with plans to work with other organizations, nonprofits, academic institutions and governments. A “metaverse” would need more than just Facebook to create, the company says, and it could take 10-15 years to bring this idea to fruition.
Along with laying out its plans for creating a “metaverse,” Facebook says it will build the virtual spaces responsibly. This includes keeping individuals’ privacy intact by minimizing the amount of data used, keep people online safe, give individuals choices for a thriving digital economy and to make sure the technologies created are inclusive and accessible.
This new venture into virtual spaces by Facebook comes a week after the social media platform promoted a. Andrew Bosworth, the current vice president of , will be the new CTO starting in October.