Facebook is spending $50 million to ‘responsibly’ build the metaverse

Illustration by Alex Castro / The Verge

Facebook has announced a $50 million fund that it says will help it develop the metaverse more responsibly. It’s officially called the XR Programs and Research Fund, and the company says it’ll be invested into “programs and external research” over the course of two years. Facebook has previously funded academic research into the social impact of AR wearables and solicited VR hardware proposals. Facebook’s announcement blog calls the metaverse the “next computing platform” and says that the company will be working with policymakers, researchers, and industry partners while building it.

The announcement also gives us Facebook’s definition of the sometimes nebulous word “metaverse.” The company describes it as “virtual spaces where you can...

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