Facebook said it plans to hire 10,000 workers in Europe over the next five years to work on a new computing platform that promises to connect people virtually.
Mark Zuckerberg speaks about the new Facebook News feature at the Paley Center For Media on Oct. 25, 2019 in New York City.
Facebook executives have been touting the metaverse as the next big thing after the mobile internet, though their track record is spotty on predicting future trends. Expectations that CEOmade four years ago of taking virtual vacations with faraway loved ones via a headset or using a smartphone camera to improve an apartment virtually have not materialized so far.
The metaverse essentially is a massive virtual world that can be accessed in real time by millions of people using avatars, who can use it to hold virtual meetings or buy virtual land and clothing or other digital assets, often paying with cryptocurrencies. Facebook last month announced a $50 million investment to fund global research and partnerships with civil rights groups, nonprofits, governments and universities to develop products responsibly for the metaverse. But the company added that it would probably take 10 to 15 years to “fully realize” many of those products.
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