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Facebook will spend $50 million on metaverse related initiatives

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Rushali Das Follow

INDIA

Oct, 02 2021

Oct, 02 2021

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Facebook will invest $50 million and partner with companies to responsibly build the so-called metaverse, which is a digital world where people use different devices to move and communicate in a virtual environment 

The world’s largest social channel, Facebook, has heavily invested in virtual and augmented reality projects. It has successfully developed hardware such as its Oculus VR headsets, wristband technologies, and working on AR glasses. The firm has been criticized several times for its impact on online safety.

The new XR Programs and Research Fund will contribute funds globally over a time of two years to guarantee that the metaverse technologies are “built in a way that’s inclusive and empowering,” said Facebook.

The girl also said that it plans to work with researchers across four areas. One of these areas also includes data privacy and safety. This will allow users to easily seek help if something in the metaverse makes them uncomfortable.

Facebook wrote in a blog post that it would focus on research to design the technologies that are accessible to all users & also “encourage competition” in the nascent industry. Facebook has previously faced scrutiny on a vast range of internet issues, like social media’s negative impact on teens and the spread of disinformation.

Facebook paused its development on an app that they were working on to provide appropriate content for kids under 13, known as the Instagram app. U.S. advocacy groups and lawmakers have cited safety concerns regarding the app and urged Facebook to drop the launch plans.

A Facebook executive on Thursday will testify hearing at a U.S. Senate committee on the impact of the Instagram app on young ’ mental health.

The University of Hong Kong and Seoul National University will research regarding the safety, ethics, and responsible design said Facebook. 


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Rushali Das

CBW - External Analyst

INDIA

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