Tech giant Meta has announced that it is developing a social media platform that could be a competitor to Twitter.
Meta plans to create a decentralized network to share text updates and believes that this new space will allow users and creators to communicate with ease.
A spokesperson for Meta confirmed the idea, saying, “We (Meta) are exploring a standalone, decentralized social network for sharing text updates. We believe there is an opportunity for a different platform where artists and public figures can communicate timely information about their interests.”
Although the product is still in its early phases and no release date has been announced, legal and regulatory teams have already started to look into any potential privacy issues around the app to remedy them before launch.
Since it will be a decentralized social platform, users will be able to communicate effectively without relying on a central authority; in this way, users are in complete control of the data produced on the platform. The social media platform will also help in tackling privacy and censorship issues that have arisen over the years.
By doing this, Meta is looking to adopt Web3 technologies which is a different approach from what is usually used by tech giants to develop their platforms. If successful, this project can threaten Twitter’s supremacy, which has yet to face any major competition until now.
Twitter CEO, Elon Musk, had something to say about Meta’s new product when he commented on a user’s Twitter post, calling the social media application a “copycat.”
Both Twitter and Meta seem to be struggling with revenue generation this year and have been coming up with strategies and ideas that can keep them in business. They both launched a paid verification plan, laid off thousands of staff, and are working on multiple projects.
Meta announced its project plans when Twitter seems to be in turbulence under its new owner. This turbulence includes layoffs, outages, and the loss of big advertisers. Despite all this, many users still use the platform due to the lack of any credible alternative, but Meta’s new app could perhaps be the way out.
A fierce tech competition is on the horizon between giants Meta and Twitter. After the new meta social media app is launched, who do you think will come out on top?
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Photo By Dima Solomin
