{"id":345208,"date":"2021-09-28T06:53:28","date_gmt":"2021-09-28T03:53:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/facebook-announces-50m-investment-fund-tasked-with-developing-its-virtual-metaverse\/"},"modified":"2021-09-28T06:53:28","modified_gmt":"2021-09-28T03:53:28","slug":"facebook-announces-50m-investment-fund-tasked-with-developing-its-virtual-metaverse","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/facebook-announces-50m-investment-fund-tasked-with-developing-its-virtual-metaverse\/","title":{"rendered":"# Facebook announces $50M investment fund tasked with developing its virtual metaverse"},"content":{"rendered":"

“# Facebook<\/a> announces $50M investment fund tasked with developing its virtual metaverse <\/strong>”
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Facebook has announced it will allocate $50 million to a two-year fund tasked with beginning work on realizing the firm\u2019s vision for a virtual metaverse. <\/p>\n

A Sept. 27 announcement<\/a> articulates Facebook\u2019s roadmap for building its metaverse, with the funding slated to back \u201cglobal research and program partners\u201d looking to build out the platform in addition to internal research.<\/p>\n

The metaverse won\u2019t be built overnight by a single company. We\u2019ll collaborate with policymakers, experts and industry partners to bring this to life,\u201d emphasized the announcement.<\/p>\n

The Metaverse will allow people to interact with one another, digital objects and the physical world through their avatar in a virtual environment. Funding will be disbursed through Facebook\u2019s XR Programs and Research Fund.<\/p>\n

Rumors of Facebook’s plan to build out a virtual metaverse began circulating<\/a> in June, with the firm announcing the formation<\/a> of an executive team tasked with overseeing the project the following month.<\/p>\n

In its latest announcement, Facebook asserts that its metaverse \u201cis not necessarily about spending more time online \u2014 it\u2019s about making the time you do spend online more meaningful.\u201d<\/p>\n

Despite the $50 million investment fund, Facebook believes it will take more than a decade until a comprehensive version of its metaverse will be live and featuring a wide array of products and services.<\/p>\n

To ensure its metaverse is deployed in a way that is ethical and inclusive, Facebook has also partnered with multiple universities and non-profit organizations representing minority groups, including Women In Immersive Tech, Africa No Filter, The University of Hong Kong, and the National University of Singapore.<\/p>\n

Related: <\/em><\/strong>New industry, new rules: Building the Metaverse without bias<\/em><\/strong><\/p>\n

As Facebook moves to mobilize capital to begin developing its metaverse, crypto developers have already made strides in building out decentralized and interoperable metaverses of their own.<\/p>\n

Decentraland\u2019s open-world metaverse comprises a decentralized community-owned virtual world built on the Ethereum blockchain. Users can build 3D environments, create avatars, or showcase a range of digital content which can be monetized. <\/p>\n

Similarly, the Sandbox is an NFT-powered game<\/a> in which players can buy digital plots of land and create gaming experiences on top of them to share with other users.<\/p>\n