Facebook parent company Meta Platforms is working on a text-based decentralized social app, Tech Crunch reported on March 10.
The article, citing a Meta spokesperson, said the app would become a stand-alone product for sharing text updates. The news first appeared on Indian business news site MoneyControl.
“We believe there should be a separate space where creators and celebrities can share timely updates about their interests,” said a Meta spokesperson.
The app, codenamed “P92,” is still in development. Users will be able to log on using their credentials for Instagram, a photo-sharing social network owned by Meta.
The app also supports the ActivityPub protocol. The protocol is also supported by Mastodon, a decentralized social media platform that became popular after Elon Musk’s acquisition of Twitter, the article said.
Mark Zuckerberg’s social media empire will change its name from Facebook to Meta in 2021, reflecting Web3-related ambitions especially around the Metaverse. However, the company’s Metaverse division lost $13.7 billion in 2022.
Meta’s share price was little changed at $182.21 in pre-market trading at the time of writing.
Meta has not yet responded to CoinDesk’s request for comment.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
| Image: Meta CEO Mark Zuckerberg (Shutterstock)
｜Original: Facebook Parent Company Meta Exploring Decentralized App: Report