Tag Archives: Facebook (META)

Walt Disney has knocked metaverse plans off its priority list. The entertainment giant’s “next-generation storytelling and consumer experiences” division had been tasked with exploring metaverse strategies. But now Disney is eliminating the entire division as part of its restructuring map, which entails reducing the headcount by nearly 7,000 across the company over the next two months. Metaverse No Longer a Priority for Disney According to a WSJ report, Disney’s CEO Robert...

Mark Zuckerberg-led social media giant – Meta – is developing a decentralized text-based app called Codenamed P92. According to a report, users can log in to the new app through their Instagram credentials. The latter’s head, Adam Mosseri, has been roped in to lead the project. With the new app using existing Instagram data, including names, profile photos, and followers, among other things, this may not sit well with many since Meta has faced criticism in the past for its...

Mark Zuckerberg’s Metaverse bid proved costly for the company amidst a persistent bear market as Reality Labs lost $13.7 billion in 2022. According to Meta’s earnings release, the company’s metaverse arm recorded an operating loss of $4.28 billion in the fourth quarter, dragging down its total for the year. Facebook was rebranded as Meta in the fall of 2021 as Zuckerberg doubled down on efforts to create a digital universe where people can work, shop, play, and learn....

A recent document filed with the United States Bankruptcy Court for the District of Delaware revealed that FTX’s creditors consist of over 9.7 million companies and individuals. Some of the most famous entities include the likes of Apple, Amazon, Google, Meta, Netflix, Microsoft, and more. Who Got Burned? One of the darkest moments in crypto’s recent history – the collapse of FTX – triggered massive financial losses for people and organizations. The lawyers of the bankrupt...

As a ‘last resort’ option, Meta CEO Mark Zuckerberg has announced that his company will be slashing 11,000 employees from its workforce. That’s 13% of the company. In a blog post shared with employees on Wednesday, Zuckerberg said Meta was taking steps to become “leaner” and more efficient, but regrets that he now must lay off employees.  Zuckerberg explained that the company had been shifting resources into “high priority growth areas,” including the metaverse, while cutting...

Polygon (MATIC) was among the best performers in the top 20 cryptocurrencies in the last 24 hours. The token gained nearly 17% and traded at $0.98 for the first time since mid-August.  Although its valuation has retraced to $0.95, here are three possible reasons behind MATIC’s impressive 17% increase.  MATICUSD. Source: TradingViewMeta Picks Polygon for NFT Minting On November 2, Ryan Wyatt, CEO of Polygon Studios, announced that Meta, the parent company of social media...

Four years of development later, the Aptos network finally hit the mainnet on October 17th, but the reception so far has been stale. Some users pointed out that Aptos had a lower transaction per sec (TPS) than Bitcoin and speculated that a “majority of tokens are either staked or ready to be dumped on retail investors.” Attracting VCs Even before the mainnet launch, Aptos had managed to attract VCs in the Web3 circles. The layer-1 blockchain was launched by former employees...

Meta Platforms Inc. – the owner of the Meta (formerly Facebook) brand – filed for five trademark applications on Friday under the name of “Meta Pay”. They appear to be dedicated to a new digital payments platform that will integrate various cryptocurrency and blockchain-related products. Examining “Meta Pay” According to the applications filed on May 13th, Meta Pay is described as an “online social investment network.” It will allow users to conduct trades using digital...

Meta, the company behind Facebook, is reportedly trying to develop its own token – not a cryptocurrency – to support its ambition of connecting users through the Metaverse. More tokens may be developed to facilitate the realization of the project, the report outlined. The newly explored token is like ROBUX for another metaverse Roblox reported the Financial Times. A metaverse-specific currency, which is in the early planning stages, has been nicknamed “Zuck Bucks” by...

Mark Zuckerberg – CEO of Meta (formerly Facebook; owner of Instagram) revealed today that Instagram will be integrating NFTs into its platform. Speaking at SXSW, the billionaire confirmed that the digital collectibles would come to Instagram “in the near term”. He shared little detail about what role NFTs would play on the platform, but suggested that people could both show off their current NFTs, and even mint new ones. “I’m not ready to kind of announce exactly what that’s...