Meta plans for decentralized social media app unveiled in new report
Dubbed P92, the app will be text-based, and users can access the platform using their Instagram log-in details; it will also be interoperable with Mastodon.
Latest Meta News
EU to monitor antitrust and promote healthy competition in the metaverse
The European Union’s antitrust head says the region must adapt its policies to fit the digital age, including promoting healthy competition in the metaverse world.
Meta lost $14B in 2022 on its metaverse bet, but Zuckerberg wants to invest more
Q4 2022 was Meta’s Reality Labs’ worst one yet, with a $4.3 billion loss; while Zuckerberg laid off 11,000 workers in November, he wants to invest more in the metaverse.
Meta wins court battle with FTC over the acquisition of VR platform Within Unlimited: report
A California judge denied the FTC's injunction request, arguing that Meta would dominate the VR industry by acquiring the VR fitness app Within Unlimited.
Irish privacy regulator fines Meta more than $400M over illegal ad practice
The decision by Ireland's Data Privacy Commissioner (DPC) found that Meta had illegally forced users to accept personalized ads by placing the legal consent within the terms of service.
Philippine central bank removes Novi from exclusive list of VASP licensees
Novi is no longer a registered Virtual Asset Service Provider in the Philippines following BSP's decision to remove it from the list of digital wallets after its unfateful closure on September 1.
More bad news for Meta as Irish DPC imposes €265M fine over GDPR violations
The Irish Data Protection Commission assessed Facebook search, FB messenger contact importer, and Insta contact importer tool and found that they violated compliance with GDPR’s obligations for data protection and design by default.
Meta begins mass layoffs—why?
Meta CEO Mark Zuckerberg proceeds with the company's mass layoffs following a turbulent year and his desire to create a grand metaverse that largely went off the rail.
Meta investors panic as Zuckerberg doubles down on Metaverse
Meta's shares tumbled after the release of its Reality Labs financial report, which saw an operating loss of $3.67 billion and is likely to grow in the coming year, drawing panic among investors.
Aptos: Hyped new blockchain stumbles at launch amid transparency questions
Former Meta employees kickstarted the transactions in its Aptos blockchain project amid claims that the platform "is broken" and its total asset supply has not been publicly disclosed.
Meta allows users to cross-post NFTs on Facebook and Instagram
The social media giant also announced that digital collectibles were now available to every Instagram user in the 100 countries where the feature is available.
Meta faces stern test in Australia over ‘strange and unfortunate’ tactics in lawsuit
Meta pleads the court to allow documents alleging it profited off 'crypto' investment ads that turned out to be scams to remain confidential, which the Federal Court of Australia finds 'strange.'