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Facebook Invests $10 Billion Into the Metaverse
The Metaverse is the next iteration of the internet, a virtual world where people can interact and create their own digital worlds. It’s a world where everyone can access and use virtual items, such as virtual houses and cars, and interact with other people in the world.
A lot of the tech giants have been exploring the concept of the Metaverse. Facebook recently announced that they would be investing $10 billion in the year ahead into this new technological frontier.
Zuckerberg says that the Metaverse is a “next chapter” of the Internet. It will allow people to work remotely and connect with others. He also believes that it will be the platform for the next generation of internet and mobile internet.
The concept is based on cryptography and blockchain technology. In addition, it’s a shared, interoperable network that will allow people to trade digital goods.
Users can exchange property in the Metaverse for non-fungible tokens (NFTs), which have real value. They can then sell the tokens for other currencies, use them to pay for goods, or purchase virtual property.
NFTs are also used to issue passes to closed clubs, movies, or other events. This could lead to the formation of an economy in the metaverse. However, these tokens are illiquid and risky.
A recent bizarre selfie of Mark Zuckerberg, drawn in front of a clip art Eiffel Tower, went viral online. It wasn’t a joke.
Zuckerberg has been dipping his toes into the Metaverse. He hopes to build a world where big companies can take big shots.