Meta’s Web3 hopes face challenge of decentralization and market headwinds By Cointelegraph
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Meta’s Web3 hopes face challenge of decentralization and market headwinds Facebook (NASDAQ:) went under a major brand overhaul to project its focus on the Metaverse and rebranded to Meta in late 2021. The major shift for the social media giant surprised many, but looking at Facebook’s record with emerging tech trends, it was only a matter of time before it jumped into Web3.
Meta’s crypto aspirations first came to light in 2019 after a failed experience in the digital payment sector with a Messenger-integrated payment option. The tech giant subsequently revealed its plans to launch a universal stablecoin backed by a basket of fiat currencies from different nations. The plan was to introduce a global digital payment network with the help of its social media reach of more than two billion active users on Facebook, Whatsapp and Instagram.
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Meta’s Web3 hopes face challenge of decentralization and market headwinds Facebook (NASDAQ:) went under a major brand overhaul to project its focus on the Metaverse and rebranded to Meta in late 2021. The major shift for the social media giant surprised many, but looking at Facebook’s record with emerging tech trends, it was only a matter of time before it jumped into Web3.
Meta’s crypto aspirations first came to light in 2019 after a failed experience in the digital payment sector with a Messenger-integrated payment option. The tech giant subsequently revealed its plans to launch a universal stablecoin backed by a basket of fiat currencies from different nations. The plan was to introduce a global digital payment network with the help of its social media reach of more than two billion active users on Facebook, Whatsapp and Instagram.
Continue Reading on Coin Telegraph
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