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However, Mark Zuckerberg’s social network is already working on the pieces needed to solve the puzzle - its own stablecoin Diem, formerly known as Libra, the Novi digital wallet, and an affinity for non-fungible tokens (NFTs).įor the people who distrust Facebook, the good news is that it's not the only player looking to launch its own metaverse - even though it is, by far, the biggest. The note does not mention it, and none of the partners and institutions it names appear to have significant relevance to blockchain or data rights,” Yat Siu, co-founder and chairman of Animoca Brands, told Business Insider in a statement.


The social media giant is pumping $50 million into its metaverse project called ‘XR Programs and Research Fund’. Simply put, the metaverse is a digital world where nearly anything is possible.Įven Facebook wants a part of the action. Gamers in Southeast Asia are using ‘play to earn’ games built on blockchain to earn their livelihood, Snoop Dogg is throwing virtual parties and artists have a new way to earn money. The world of crypto is changing the way people create value in all parts of the world.
