Facebook to spend $50 million for sci-fi Metaverse project, announces first partners

Social media giant Facebook has announced a $50 million fund for its recently announced Metaverse program.

Further, Facebook noted that the Metaverse “Isn’t a single product” and the company doesn’t plan to build it alone.

Facebook chief executive Mark Zuckerberg had originally announced the plans to build the Metaverse during a town hall ahead of the company’s second quarter earnings call this year.

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