Facebook Wants To Build Metaverse: Is It Really An Alternate World?


After facing some damaging allegations, Facebook has finally announced some of the major regulations to curb its vast influence. The announcement comes after the company scramble with an offshoot of malicious scandal about Facebook preferring profit over consumers. On Monday, 18 October the company announced its plans to hire 10,000 individuals in the European Union to set up the ‘metaverse’. It is a reality version of the internet that the tech giant sees as the future.

It is believed that this metaverse would fade the border between the digital and physical world. In Silicon Valley, the Facebook CEO announced this idea of the metaverse and created massive hype all across the globe. Apparently, the metaverse is the virtual reality of the internet world that will soon come to life and people can see it soon in the upcoming future.

This means in the future world could share lands, building, avatars, and even names can be brought and sold with the help of cryptocurrency in a virtual world. People can also take tours of buildings and property, buying services and goods, roam with friends, and attend any events at any time and place.

The CEO of Facebook, Mark Zuckerberg has been a chief voice about the idea of a metaverse in the most populated entrepreneurship bay in San Francisco. He said that the technology allows you to contact someone with the help of virtual reality glasses. It feels like a face-to-face conversation whereas they are thousands of miles apart and connect via the internet.

The CEO said, “The metaverse has the potential to help unblock access to new opportunities in the field of creative, social, and economics. Therefore, European will shaping it right from the start”.

Further, he said that this massive idea will generate more than 10,000 jobs in European Union in recent future. On the other hand, the companies provided very little information about their plans for a new metaverse team.

In a blog, post-Zuckerberg said that there is a number of benefits to choosing the EU for tech companies to invest in.  It is a great place for investors, a giant consumer market, and fine-class universities with crucially top-class talent.

A reputed newspaper Washington Post claimed that apparently, the company faced a storm of criticism over the past few months. Therefore, interests of the Facebook in metaverse to a part of the broader push to retain the company’s reputations. It is also for reshaping the Facebook policy and regulations of the next wave of internet technology.

Metaverse, A Next Tech Revolution

It is a science fiction term first coined by the term meta and universe. It means beyond the universe. With the help of metaverse, anybody can wander around with friends, buy goods and services, visits sites and buildings, and any events, occasions and conferences.

This concept comes to mind due to the pandemic which compelled every human to live in their home. The lockdown norms and work from policies pushed more people online for both business and pleasures.

This incentive also makes cryptocurrency more popular. To enter the blockchain metaverse NFTs and cryptocurrency will need. Therefore the platforms like Decentraland and Sandbox allow people to purchase virtual parcels of land and to build their own environment. With the help of metaverse, people can use virtual platforms to meet up for business or reactions and other types of conferences.

ALSO, READ: Former Uber Executive Becomes Head Of Public Policy For Facebook India


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