Groups urge Meta to ban minors from the Metaverse
Advocacy and safety organizations have sent a letter to Mark Zuckerberg’s imploring him to abandon plans by social media giant Meta to allow minors into the metaverse. Experts in online safety sent a letter to the CEO of Meta on April 14, urging the company to abandon its plans to invite teens and young adults […]
Meta Cuts 10k More Workers After Scrapping NFT Plans
Meta is focusing on investing in the metaverse and artificial intelligence while cutting costs in order to strengthen its economic model. Mark Zuckerberg, the CEO and founder of Meta, made the announcement of the job cuts on March 14. He cited the need for the company to improve its technology and financial performance in light […]
Meta Gives Up On NFTs For Facebook, Instagram
Meta’s Chief of Commerce and Financial Technology, Stephane Kasriel, announced that his organization would be phasing down its NFTs features. Meta will focus on fintech rather than NFTs, in a conversation on Twitter, Kastiel said: “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses.” While […]
Meta reportedly plans large-scale staff layoffs
According to reports, Facebook and Instagram’s parent company Meta are preparing for “large-scale layoffs” this week due to rising costs and a recent decline in its share price. The planned layoffs could affect thousands of workers across Meta’s 87,000-strong workforce, according to a Wall Street Journal (WSJ) report from Nov. 6 that cited people familiar […]
Metaverse Losses Top $3.6B For Meta
The tech giant stated its spending will only increase, athough it is only around $500 million away from surpassing its more than $10 billion losses. With a $3.67 billion deficit reported for the third quarter of 2022, Big Five technology giant Meta is still losing money through Reality Labs, its metaverse research and development arm, […]