News Digest

Why a decentralized metaverse is the new Web3 frontier

Facebook recently brought the metaverse to the mainstream by rebranding itself as Meta. Aside from investing US$50 million, the company also announced plans to create 10,000 new jobs across Europe to help it bring the metaverse to life. Some have argued that this move is a ploy for the tech giant to distance itself from existing privacy and data security scandals. Others claim that — as well as looking to capitalize on Europe’s extensive tech talent — the decision to base metaverse jobs on the continent will be used to reduce scrutiny on Meta’s practices and help the company influence E.U. tech legislation. Taking a more positive view, there’s no doubt that Facebook’s entry into the metaverse will help bring an influx of capital and brilliant innovators together to build the infrastructure of its metaverse. The rebrand news has already helped bring the idea of a metaverse to mainstream consciousness, promoting the utility and fun that can be found there.

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