Facebook, Inc. Common Stock (NASDAQ: FB) has announced that it will start a fund of $10 million that will go towards its Horizon World platform, which was created in 2020. The fund will be used to encourage creators to make content for the virtual reality platform.
The funding will be provided in three ways. The first is through the company’s accelerator program, which offers users from different backgrounds a crash course on Horizon Worlds Creation. The program is set to start at the beginning of 2022. Facebook also plans to launch competitions where creators will compete for cash prizes worth up to $10,000. The creators who make the best worlds on the platform have a higher chance of winning. Facebook will also fund creators, studios, and developers to create experiences on the platform in specific themes.
Facebook has so far invested in its Oculus V.R. headsets ad ecosystem. The company finds itself competing against other companies that create metaverses such as Roblox and Epic games.
Facebook facing a lawsuit by Donald Trump
Meanwhile, former U.S president, Donald Trump, is filing a lawsuit against Facebook to access his blocked account. After violating their policies, Trump was banned from social media platforms such as YouTube, Twitter, and Facebook. Facebook found that Trump’s comments to Capitol Hill rioters and his repeated claims on election fraud could cause violence.
Trump has filed a preliminary injunction of Facebook’s ban as he seeks to gain permanent access to his account. He had a total of 59 million followers on Facebook and its wholly-owned subsidiary, Instagram.
His lawyers have labeled the ban illegal and unconstitutional, adding that it violates the former president’s first amendment rights. However, other lawyers have said that the first amendment does to apply to the private sector; hence Trump is not likely to win the suit.
The ban stands in Trump’s way as he plans to use the sites to connect with his supporters and gain new ones. It is also was for him to relay his political views.
Google two-step verification
Alphabet Inc Class A (NASDAQ: GOOGL) has also announced its plans to activate the two-step verification feature in accounts in 150 million more accounts by the end of the year.
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