{"id":6177,"date":"2023-03-12T05:14:16","date_gmt":"2023-03-12T05:14:16","guid":{"rendered":"https:\/\/metaverseplanet.net\/blog\/?p=6177"},"modified":"2025-12-30T08:06:03","modified_gmt":"2025-12-30T08:06:03","slug":"metas-ambitious-move","status":"publish","type":"post","link":"https:\/\/metaverseplanet.net\/blog\/metas-ambitious-move\/","title":{"rendered":"Meta&#8217;s Ambitious Move: Leaving Hope Behind, Taking on Twitter Rival"},"content":{"rendered":"\n<p>Meta is developing a new social media platform aimed at replacing Twitter, following its acquisition by Elon Musk in recent months.<\/p>\n\n\n\n<p>The new platform by Meta will utilize a framework similar to that of Mastodon, a service akin to Twitter launched in 2016. This move will allow Meta to capitalize on the current turmoil, characterized by widespread cost-cutting at the company now led by Elon Musk.<\/p>\n\n\n\n<p>Since Musk&#8217;s takeover of Twitter late last year, the platform has faced challenges in maintaining its advertising base. Advertisers pulled back their investments following Twitter&#8217;s decision to reinstate suspended accounts and introduce a paid verification feature, which led to scammers impersonating companies.<\/p>\n\n\n\n<p>The timing of Meta&#8217;s venture into a Twitter-like platform coincides with challenges faced by Facebook, its flagship platform, which struggles to appeal to a younger demographic and shows little immediate return on its substantial investments in the metaverse. This virtual environment allows users to interact and work within it.<\/p>\n\n\n\n<p>Furthermore, Instagram, Meta&#8217;s video-sharing app, is encountering fierce competition, with content creators and popular influencers migrating to TikTok.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Metaverse interest is waning<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"900\" height=\"600\" src=\"https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2024\/02\/Metas-Ambitious-Move-Leaving-Hope-Behind-Taking-on-Twitter-Rival.webp\" alt=\"Meta's Ambitious Move: Leaving Hope Behind, Taking on Twitter Rival\" class=\"wp-image-12533\" srcset=\"https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2024\/02\/Metas-Ambitious-Move-Leaving-Hope-Behind-Taking-on-Twitter-Rival.webp 900w, https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2024\/02\/Metas-Ambitious-Move-Leaving-Hope-Behind-Taking-on-Twitter-Rival-300x200.webp 300w, https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2024\/02\/Metas-Ambitious-Move-Leaving-Hope-Behind-Taking-on-Twitter-Rival-768x512.webp 768w, https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2024\/02\/Metas-Ambitious-Move-Leaving-Hope-Behind-Taking-on-Twitter-Rival-150x100.webp 150w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/figure>\n\n\n\n<p>The release date for Meta&#8217;s new application remains unspecified. Thomas Hayes, chairman and managing member of Great Hill Capital based in New York, commented, &#8220;Meta&#8217;s track record shows they excel more at acquisitions and expansion than at innovation or development&#8230; Their attempt to replicate Twitter is essentially a defensive strategy.&#8221;<\/p>\n\n\n\n<p>Hayes further noted, &#8220;They&#8217;re exploring every option&#8230; With a mini-blog site akin to Twitter, there&#8217;s an anticipation that monetization of the platform could commence much more swiftly compared to the investments being poured into the metaverse.&#8221;<\/p>\n\n\n\n<p>Analysts have suggested that Meta&#8217;s investments in the metaverse are unlikely to contribute to revenue growth until 2030.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">You may also like this content<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><\/ul>","protected":false},"excerpt":{"rendered":"<p>Meta is developing a new social media platform aimed at replacing Twitter, following its acquisition by Elon Musk in recent months. The new platform by Meta will utilize a framework similar to that of Mastodon, a service akin to Twitter launched in 2016. This move will allow Meta to capitalize on the current turmoil, characterized &hellip;<\/p>\n","protected":false},"author":1,"featured_media":6178,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAown96uCw:productID":"","footnotes":""},"categories":[322],"tags":[74,318],"class_list":["post-6177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metaverse1","tag-meta-news-and-content","tag-metaverse-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/6177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/comments?post=6177"}],"version-history":[{"count":0,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/6177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media\/6178"}],"wp:attachment":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media?parent=6177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/categories?post=6177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/tags?post=6177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}