Facebook has announced that it will allocate $50 million in a two-year fund to kickstart the company’s vision for a virtual metaverse. Facebook has announced that it will allocate $50 million in a two-year fund to kickstart the company’s vision for a virtual metaverse. The announcement made on September 27 set out Facebook’s roadmap for building its metaverse, with funding to support “global research and program partners” looking to build platforms beyond internal research. Metaverse was not built overnight by a company. We will work with politicians, experts and industry partners to achieve this,” the statement said. Metaverse will allow people to interact with each other, with digital objects and the physical world through their avatars in a virtual environment. Funding comes from the XR program and Facebook’s research fund.In June, rumors began to spread about Facebook’s plans to create a virtual metaverse, and the company announced the formation of an executive team to oversee
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