Facebook Commits $50M To Responsible Metaverse

Facebook Inc FB has committed $50 million to build its metaverse in collaboration with organizations responsibly, including data privacy and safety.
Metaverse refers to a digital world where people can move between different devices and communicate in a virtual environment.
The new XR Programs and Research Fund will invest the money globally over two years to ensure metaverse technologies are "built in a way that's inclusive and empowering."
Seoul National University and the University of Hong Kong will research safety, ethics, and responsible design.
Facebook has been lately at the receiving end over a wide range of factors, including Instagram's harmful impact on teenagers and misinformation allegations.
Price Action: FB shares closed higher by 0.18% at $353.58 on Monday.