Facebook earmarks $50-mn investment to build metaverse responsibly

Facebook has announced a $50-million (about Rs 370.6 crore) investment in global research and programme partners to ensure that "metaverse" is "developed responsibly." Metaverse -- according to the social media giant -- is a set of virtual spaces where people can create and explore with others, who aren't in the same physical space as them. People will be able to hang out with friends, work, play, learn, shop and create with others.

"As we focus on helping to build the next computing platform, our work across augmented and virtual reality and consumer hardware will deepen that human connection regardless of physical distance and without being tied to devices… The metaverse isn't a single product one company can build alone… Many of these products will only be fully realised in the next 10-15 years," Facebook said in a blogpost.

The US-based company noted that it will work with experts in government, industry and academia to "think through issues and opportunities in the metaverse." It added that human rights and civil rights communities will also have to be involved from the start to ensure these technologies are built in a way that is inclusive and empowering.