Facebook Invests $50 mln to Build the ‘Metaverse’

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Facebook is investing $50 million to work with various organizations to responsibly build the so-called Metaverse – a digital world where people can use a variety of devices to move and communicate in a virtual environment.

The planet’s largest social media platform has invested heavily in virtual reality and augmented reality, developing hardware such as Oculus VR headsets, as well as AR glasses and wristband technology.

The new XR Programs and Research Fund would invest the money globally over two years to ensure metaverse technologies are “built in a way that’s inclusive and empowering,” Facebook said.

Facebook plans to work with researchers in four areas, including privacy and security, to allow users to get help if things they see in the metaverse makes them uncomfortable.

Facebook added that it would also conduct research on how to develop technologies that are inclusive and accessible to all users and that foster competition in the emerging sector.

Announced partners for Facebook’s new Metaverse fund are Howard University in Washington, D.C., which will launch research into the history of diversity in information technology and how this could affect Metaverse opportunities.

On the other hand, Seoul National University and the University of Hong Kong will conduct research in the areas of safety, ethics and responsible design.

For more information, you may view the original story from Reuters.

For more information, view the original story from Retuers.

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