Reports indicates that the metaverse optimum value will take a while to be realized, given that the company has just recently invested $50m (£36.3m) in funding non-profit groups to help “build the metaverse responsibly”.
However, in an interview held back in July with the Chief Executive Officer of Facebook, he profound his intentions for the multi-billion dollar enterprise. saying that: “We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”
Meanwhile, Facebook is allegedly in crisis amidst its name transition as the company undergoes trial with the US Senate. An informant, Frances Haugen, who was a previous employee of Facebook, relates saying that the company knew that its apps were toxic to the well-being of young ones but did nothing about it.
Reports from Bloomberg further shows that he shared thousands of Facebooks documents with regulators and the Wall Street Journal. The documents holds in details the struggle of Facebook moderating its content and alleged detrimental -health effects of its photo-sharing app Instagram.