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Monday, December 6, 2021

What is Metaverse, why is Facebook making big investment in this project

Social media giant Facebook has said it will begin publishing the financial results of its augmented and virtual reality labs as a separate entity. The company is investing millions of dollars in the Metaverse. Facebook is facing difficulties in the core business of advertising and due to this it wants to enter the new segment.

What is Metaverse

It refers to the virtual world environment that people can access through the Internet. These are digital spaces that are made real using virtual reality (VR) or augmented reality (AR).

Some people also use the term Metaverse to describe the gaming environment, where users have a character that can interact with other players as they move.

There is also a special type of Metaverse that uses blockchain technology, in which users can buy digital assets using cryptocurrencies.

The story of an alternate digital world is present in many science fiction books. However, this is still just a fantasy. Most virtual spaces resemble a video game rather than a real one.

People currently use social media platforms or messaging apps for online interaction among themselves. An attempt will be made to improve this interaction through Metaverse. In this, people will be able to experience some digital content instead of just watching it.

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It is being seen as the next stage of development of the Internet.

Interest in the Metaverse has also increased due to Corona. With a large number of people working from home and online classes, a need has been felt to improve interaction on the Internet.

Facebook CEO Mark Zuckerberg said in July that the company would try to become a Metaverse company over the next few years rather than just being in the social media segment.

The popularity of the Metaverse is increasing in American Silicon Valley and Microsoft has also started using it.

The company that develops Roblox, one of the favorite children’s games, describes itself as a part of the Metaverse.

Big fashion companies have also started experimenting with virtual clothing for which the Metaverse environment is being used.

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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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