Meta’s Web3 hopes face challenge of decentralization and marke | https://t.me/DApps_Web3
Meta’s Web3 hopes face challenge of decentralization and market headwinds
Meta’s metaverse aspirations haven’t fared well for the tech giant, as the firm wiped out nearly five years’ worth of market cap in just 10 months of 2022. Meta’s crypto aspirations first came to light in 2019 after a failed experience in the digital payment sector with a Messenger-integrated payment option. The tech giant subsequently revealed its plans to launch a universal stablecoin backed by a basket of fiat currencies from different nations. The plan was to introduce a global digital payment network with the help of its social media reach of more than two billion active users on Facebook, Whatsapp and Instagram.
