Facebook’s New Metaverse
In the Metaverse, users inhabit a virtual world. They interact with other users via an online avatar, which allows them to move and speak freely. They can also purchase and sell virtual property in the virtual world. Metaverse tokens can be used to access content and games. Users can also create a non-custodial crypto wallet in the Metaverse.
Mark Zuckerberg, the CEO of Facebook, recently talked about the Metaverse on a recent call with investors. He praised the technology behind it, calling it the next “big thing” in the Internet. He also referred to his company as a “metaverse company” instead of a “social media company.” In fact, the Metaverse is rapidly advancing and becoming more complicated. The technology behind it includes servers, digital currency, marketplaces, social media, and language processing.
The Metaverse has already attracted big money from a wide variety of sources. Companies such as Microsoft, NVIDIA, Epic Games, and Uber are exploring the possibility of building virtual worlds. Besides tech companies, big brands such as Adidas and Coca-Cola are getting involved in the Metaverse. For example, Gucci recently partnered with the popular online game platform Roblox to sell digital accessories for players to use in the virtual world. Similarly, Coca-Cola is selling digital tokens for its product.
Facebook’s Metaverse is intended to make the buying and selling of limited edition digital objects easier than ever before. It will also allow users to display and resell digital objects. Unlike other open source metaverses, the new version of Facebook’s platform will incorporate a new stablecoin known as Diem. Moreover, the company is integrating the NFTs, Novi crypto wallet, and Diem. Interestingly, Diem was pushed back last month by US lawmakers, but will continue to be a player in the Metaverse.