Meta co-founder Mark Zukerberg restated Meta’s plan for an open, interoperable Metaverse

• Facebook rebranded its name as Meta, and co-founder Mark Zuckerberg announced the plan to develop a lavish metaverse 
• Mark Zukerberg also accepted the fear of web3 developers who are concerned the social media giant is a walled garden
• Mark Zuckerberg said that they are not developing it alone but with the partnership of DeFi

 Recently, Facebook rebranded its name and announced its new name ‘META,” and Meta’s co-founder Mark Zuckerberg announced a plan to develop a Metaverse. The company plans to twitch the ecosystem over a centralized organization creating a metaverse.

Mark Zuckerberg is planning to build an open interoperable metaverse with the help of several Web3 creators and public blockchains. Meta co-founder also announced that the company is not building Metaverse alone and has a partnership with Decentralized Finance (DeFi), an umbrella term for per to per financial service on public blockchain but primarily Ethereum. 

Mark Zuckerberg announced this at the company’s annual Meta Connect conference, where he discussed the innovation in creating the metaverse toward a more “lavish online interaction.”

Mark Zuckerberg also accepted the fear of web3 developers concerning the social media giant and building a “wall garden” ecosystem. He also added that in the case of the reserve, an “open interoperable metaverse will be better for everyone” and said the help collaboration through multiple ecosystems would create a higher value for users.

In meta open digital world, people will seem to enjoy multiple types of avatars because its interoperability will see non-fungile token(NFT) assets as well as unique apparel for avatars across multiple platforms supporting META Avtar Tech. The company has also integrated with NFTS from polygon, Ethereum, and Solana in its quest to open its structure.

Last year when Facebook and Instagram announced their plans about how they are planning to build a future immersive internet of the metaverse. Since then, only the social media giant’s stock price has fallen by 60%, and the buzz for metaverse buzz has cooled. 

Meta is still fixated on building its vision. The company also used its annual Meta connect conference keynote. Through that, the company shared its latest advancement for the metaverse, including a powerful new virtual reality named VR headset to serve as another stepping stone towards lavish online worlds and interactions.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.