Facebook's upcoming metaverse will not be a real "metaverse." At least according to Oculus's CTO, John Carmack's, recent statements. In a recent live keynote about the Facebook's new project called 'Meta' he noted that the social network's metaverse despite its ambitious plans will not be completely open in comparison with adult entertainment services from a commerce standpoint.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
While Facebook believes that cryptocurrencies (like non-fungible tokens or NFTs) will play a part in the metaverse, Carmack doubts this support will meet the expectations of the crypto-related community:
"It is unlikely that we are going to be in the completely open crypto world of things."
Carmack names "the swamp of scams" and "the spam" as the reason on why Facebook will distance from the idea of an open cryptocurrency world in the metaverse. The Oculus CTO did not clarify what limitations will be in the metaverse or how the ambitious $10 billion project plans to curb the cryptocurrency market within its walled garden.
Earlier in October, Senate Democrats called on Facebook to stop its Novi wallet initiative. According to a group letter to Mark Zuckerberg signed by US Senators Elizabeth Warren, Brian Schatz, Sherrod Brown, Tina Smith and Richard Blumenthal, Facebook "cannot be trusted" to manage a payment system or digital currency.
The senators have also urged Zuckerberg to "immediately discontinue" work on Novi pilot and to commit that Facebook will not bring the wallet to market. The call came after Facebook had launched a pilot that allows users of Novi to send remittances using Pax Dollar (USDP).
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.