Metaverse

Facebook announces ambitious metaverse project; targets 10K EU engineers in 5 years

TL;DR Breakdown

  • Facebook is entering the metaverse. To bring this idea to fruition, it’s seeking 10 thousand engineers across the European Union (EU) over 5 years.
  • The firm sees the metaverse as a platform for harnessing creative, social, and economic opportunities. And the EU’s technical expertise is a perfect fit for its ambitions.

Leading social media platform Facebook is joining the metaverse. The firm has confirmed this in a statement it posted on its Newsroom page. 

In the 17th October posting, Facebook says it’ll hire 10 thousand engineers for the project. The recruitment targets engineers in the EU will spread over five years. 

By choosing the EU, the firm insists that it’s affirming confidence in the region’s tech industry. It’s also giving EU’s tech talent a thumbs up.

Further, Facebook says it’ll be seeking collaborations in building a metaverse. Its motivation is to make online interactions as close in person interactions as possible. Again it sees the metaverse as a tool for unlocking creative, social, and economic opportunities.

Facebook is seeking partnerships

The firm holds that no single entity can own and operate the metaverse. Additionally, it envisions an open and interoperable computing platform. To achieve that, it needs to cooperate with creators, developers, companies, and policymakers.

To get a foothold in this metaverse, Facebook appreciates that it needs to invest in itself. These investments aren’t limited to its product only. They also cover tech talent and growth across businesses.

Moreover, the social media giant explained the reasons for its choice of the EU for the project. For starters, thousands of Europeans work for the company. Second, millions of businesses there depend on its products for their daily functions.

Another factor informing Facebook’s decision is the region’s values. It lauds the region for its progressive rules on the internet. The region upholds free speech, privacy, openness, and respect of individual rights on the internet.

Facebook says it subscribes to these values. It has therefore taken steps to embrace them. Consequently, the union is a perfect fit for this project.

Facebook continues to invest in the EU

Also, the company recognizes Europe as a key contributor to its successes. In turn, it’s also invested in the region. It hopes that the EU completes the adoption of the Digital Single Market (DSM). 

DSM will help the EU to develop its economic advantages further. It will also help steady data flows internationally. These two are crucial components to a thriving digital economy.

The company went on to highlight its continued investment in the EU’s talent.

It pointed out grants it has given to the Technical University of Munich. Again, it stated its opening of an Artificial Intelligence lab in France. Finally, it identified the opening of its Reality Labs Offices in Cork.

Facebook says it’s looking forward to cooperating with the EU in this project. The cooperation will help it pick the right talent and markets for development. 

Further, it hopes to expand its presence in the region. To get there, it’ll continue investing in its talent and innovative endeavors.

This post was last modified on October 19, 2021 8:44 pm

Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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