Facebook Launches $50 Million Fund for Metaverse Research

Rahul Nambiampurath
·1 min read

BeInCrypto –

Facebook has launched a $50 million fund for research into the metaverse. The two-year program will involve multiple stakeholders and be a massive collaborative effort.

Facebook has announced that it will invest $50 million into a fund that focuses on metaverse research, according to a post published on Sept 27. Andrew Bosworth, VP of Facebook Reality Labs, and Nick Clegg, VP of Global Affairs, said that the company would collaborate with policymakers, experts, and industry partners.

The executives said that the research would help “deepen that human connection regardless of physical distance and without being tied to devices.” The global program will focus on ensuring that the products would be developed responsibly. They also expect that the metaverse will not emerge overnight but rather will be a 10-15 year journey.

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