Meta Aims 'Deep Compatibility' with Blockchain and Crypto
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Dec. 24, 2021

Facebook's parent company Meta is aiming for "deep compatibility" with blockchain, crypto and NFTs, The New York Times has learned, citing an internal post from a top executive. The social network giant is planning to target a deep compatibility with the blockchain technology, wrote Andrew Bosworth, Meta's upcoming Chief Technology Officer.

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"My overall guidance is to target a deep compatibility with the blockchain. There are not many places where I expect us to depend on it exclusively yet, but if we see an opportunity to work jointly with entrepreneurs in the web3 space I expect it will be worth the effort," Bosworth wrote.

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Bosworth also added that the company should develop new ways to develop products related to non-fungible tokens (NFTs) and decentralized organizations (DAOs). However, he added Meta's employees not to overcorrect by only relying on decentralization.

Earlier in October, Oculus's CTO, John Carmack's, said 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. While Facebook believes that cryptocurrencies (like NFTs) will play a part in the metaverse, Carmack doubts this support will meet the expectations of the crypto-related community.

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