Meta CEO Mark Zuckerberg is confident Metaverse will be much more interoperable allowing users to create, share and monetise ideas as freely as they post comments on social media. He believes it will also help address some of the key problems facing blockchain and crypto sectors including the high costs of mining, transactions, and minting NFTs.

“The metaverse promises to be much more interoperable where you kind of have your identity, your expression and your avatar and your stuff and you can bring them between different experiences, ” he said earlier this week.

The idea behind creating Meta is to divert from being a social media platform to a more interoperable space that also provides NFTs, DeFi, and cryptocurrency products and services.

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Facebook, which owns Instagram and WhatsApp changed its name to Meta last month with a vision to create a platform that accommodates all the recent changes in technology, particularly virtual reality, blockchain, and cryptocurrency.

At the rebranding of Facebook into Meta, Zuckerberg said his company now aims at “bringing the metaverse to life and helping people connect, find communities and grow businesses.”

“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future. Over time, I hope that we are seen as a metaverse company, and I want to anchor our work and identity on what we’re building toward,” Meta CEO Mark Zuckerberg said.

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Through Meta, Zuckerberg has also made public his approval of the blockchain and cryptocurrency spaces.

“I am very optimistic about crypto and web 3 and that whole general direction, I think it is still early compared to what it’s going to be in its full potential,” he said.

Metaverse is committed to creating a friendlier environment for creators and aims to provide tools required for those projects including a free-flowing interaction with each other in the maker community.

(Edited by : Abhishek Jha)