Meta joins big tech layoffs, lets go of 11,000 employees

The Facebook parent company Meta announced that about 13% of its current workforce has been cut in the first mass layoff in the company’s history. In a letter to his employees, Meta CEO Mark Zuckerberg announced the layoffs and also reiterated that the hiring freeze, which began earlier this year, will be extended into the … Read more

NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

Facebook will support nonfungible tokens (NFTs) with a “digital collectibles” tab on creators’ timelines to display their work. Meta technical program manager Navdeep Singh displayed screenshots of NFTs and a creator’s page Thursday on Twitter.  A spokesperson for Meta, the parent company of Facebook, told TechCrunch the same day that the rollout of NFTs on … Read more

Meta set to begin testing NFTs on Instagram Stories with SparkAR

Instagram’s parent company Meta announced Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform SparkAR. CEO Mark Zuckerberg said of the announcement, “We’re expanding our test so more creators around the world can display their NFTs on Instagram.” The company also mentioned in a recent article,  “Creators and collectors will be able … Read more

Meta Launches Metaverse Digital Clothing Store – Metaverse Bitcoin News

Meta announced that it was launching a designer digital clothing store that will allow users to purchase pieces of clothing for their avatars in its metaverse. The company believes that clothing and other accessories will become an important part of the users’ identity expression and that this will entice them to spend money on digital … Read more

Yahoo launching Metaverse events for Hong Kong residents under restrictions

Yahoo has announced a series of Metaverse and NFT-related activities in Hong Kong, a day after Meta Platforms outlined its own metaverse plans for the region. Yahoo, a US-based internet media company, revealed that it will host a series of virtual events and concerts for Hong Kong residents in the Decentraland metaverse. According to Lorraine … Read more

South Korean government becomes an early investor in metaverse

South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects. The decision to invest in the nascent metaverse tech makes South Korea one of the first national governments to do so. The investment … Read more

Facebook Owner Meta Files Trademark Applications for ‘Meta Pay’ Covering Crypto Services – Featured Bitcoin News

Meta Platforms Inc., formerly Facebook, has filed five trademark applications for “Meta Pay.” The filings cover a wide range of cryptocurrency services. The company is renaming Facebook Pay to Meta Pay. Trademark Applications for Meta Pay Meta Platforms Inc., formerly Facebook, filed five trademark applications for “Meta Pay” with the United States Patent and Trademark … Read more

Meta trademark filing hints at plans for crypto payments platform

Social media giant Facebook’s parent company, Meta, may be planning to launch a payments platform with support for cryptocurrency.  According to records submitted to the United States Patent and Trademark Office, or USPTO, on May 13, Meta filed five applications for its namesake to be used in a platform called Meta Pay. The filings included … Read more

Polygon reaches level that last time triggered a 275% MATIC price rally — will history repeat?

Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal … Read more

Meta will test digital collectibles on Instagram starting this week

Mark Zuckerberg, CEO of Facebook’s parent company Meta, said that the company is starting to test digital collectibles on photo and video sharing platform Instagram this week, signaling a move toward adding nonfungible tokens, or NFTs. In an interview with Impact Theory’s Tom Bilyeu published to Facebook on Monday, Zuckerberg said the move to test … Read more