Hot News

Axies and Other Play2Earn Coins Surge as Facebook Changes Name to Meta

Following the decision made by the American multinational tech company, Facebook, to change its parent company name to Meta Platforms Inc, the prices of several metaverse gaming cryptocurrencies have experienced a significant increase.

Facebook Rebrands to Meta

The California-based company officially changed its corporate name to Meta Platforms Inc. yesterday, to move beyond the social media business concept.

Facebook’s CEO, Mark Zuckerberg, noted the company is trying to introduce the “next wave of computing” and move away from its highly controversial social media app, which will continue to be known as Facebook.

The name change will also not affect Facebook’s other social networking platforms, WhatsApp and Instagram, just the parent company.

The Facebook founder pointed out that the company will soon launch a metaverse, a virtual world where users will exist as avatars, work, communicate, game, and conduct every daily activity in the virtual environment.

ADVERTISEMENT

Read more:  Chainlink Price Analysis: LINK Sideways Action Might See A Huge Move Soon

 

Facebook’s Meta to Launch Metaverse Token?

It is too early to say whether Facebook’s parent company will launch a metaverse token as it ventures into the virtual world, but its crypto project is still in the works and closer to launch despite regulatory uncertainty.

The social media giant recently partnered with Coinbase to roll out its crypto wallet NOVI, which is currently in the testing phase. Facebook believes its cryptocurrency will help cater to an unbanked population of about 1.7 billion people worldwide.

Facebook’s Controversial Privacy Issues

Meanwhile, Facebook’s rebrand to Meta comes shortly after an ex-employee of the company revealed a series of negative information about the firm, contained in thousands of internal documents which are now collectively called “The Facebook Files.”

Frances Hougan, who had previously worked as Facebook’s project manager, accused the company of prioritizing its personal gains over the privacy of its users.

The revelation by the whistleblower has prompted regulators to increase their scrutiny of the social media giant.

Read more:  Greenlight: Anchorage Secures Crypto Banking Charter from the OCC

Featured Image Courtesy of HowToGeek

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

  • Axies and Other Play2Earn Coins Surge as Facebook Changes Name to Meta

    Facebook Announces a $50M Fund to Research the Development of a Metaverse

  • Axies and Other Play2Earn Coins Surge as Facebook Changes Name to Meta

    Facebook Whistleblower Frances Haugen Says She Bought Crypto at the Right Time

  • Axies and Other Play2Earn Coins Surge as Facebook Changes Name to Meta

    Facebook Partners With Coinbase to Launch Its Cryptocurrency Wallet Novi, US Regulators Fight Back

Tags: Facebook

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button