As we begin to build the metaverse to life, the need for highly specialized engineers is one of Facebook's most pressing priorities, in a statement, Facebook executive Nick Clegg and Javier Olivan wrote.
The idea behind the metaverse is to create a space similar to the internet, where users can interact with one another and walk around in real time while using digital avatars. In theory, users could sit around a virtual meeting table with remote colleagues and then walk over to a virtual Starbucks to meet up with a friend who lives in another country.
Facebook faces competition from Epic Games and Roblox to develop the metaverse of immersive games platforms like Fortnite and Roblox, maker of VR Games. Similar projects were in the works since 2003, when Linden Lab launched a virtual world called Second Life.
Facebook said the Metaverse won't be owned by any one company. Like the Internet, its key feature is openness and interoperability. Bringing this to life will take collaboration and cooperation between companies, developers, creators and policymakers, said Clegg and Olivan. Jeremy Dalton, head of XR Extended Reality at PwC told CNN Business: Setting up shop in Europe is a smart move for any organization interested in the potential of metaverse. This is not only a question of where skills lie. This new era of digital interaction will inevitably intersect with government policy and consumer and business interest in privacy, data protection and more, Dalton added. Facebook described this as an exciting time for Europe's tech industry, saying it boasts a top-quality consumer market, first class universities and crucially, high quality talent. The owner of Instagram and WhatsApp announced AI research investments in Ireland and the recent launch of a new office in France as measures to its commitment to the region. It is also a time for increased scrutiny of the company by EU and UK regulators. In June, the European Commission launched an investigation to investigate if Facebook violates EU Competition Rules by using data collected from advertisers on its platform to compete against them. The UK Competition and Markets Authority is also investigating Facebook's use of data. Pressure on the company is building from lawmakers on both sides of the Atlantic after a whistleblower went public with allegations that Facebook has repeatedly prioritized profits over public good. These concerns were displayed at the 2008 State Farm Board meeting earlier this month : Frances Haugen detailed a range of concerns, including that the company knew it was serving damaging, eating disorder-related content to young users and that the use of Facebook by authoritarian leaders could present national security concerns. Another Facebook whistleblower, Sophie Zhang will appear before UK lawmakers later on Monday for a hearing investigating the role of social media in normalizing hate speech.