Mark Zuckerberg-led social media giant Meta is developing a decentralized text-based app called Codenamed P92. The app will allow users to log in with their Instagram credentials, and will use existing Instagram data, such as names, profile photos, and followers. The app will be similar to Mastodon, which has microblogging features analogous to Twitter. Meta has also hired its legal department to address any privacy concerns before the app is released to the public. This development comes as Twitter has experienced several technical glitches and outages, prompting some users to look for alternatives. Meta’s metaverse efforts have not been profitable yet, and the company has registered an operating loss of $4.28 billion in the fourth quarter of 2022. Despite this, Meta plans to invest “meaningfully” in the metaverse as it recognizes “significant long-term opportunities.”
Meta’s Decentralized Social Network – Codenamed P92 – Taking the Internet by Storm?
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