Facebook Spends $ 60 Million To Acquire Meta Name From South Dakota Bank


Facebook determined to establish itself in the metaverse

In a relayed article by Reuters media, we learn that Facebook poured nearly $ 60 million to one Bank from South Dakota in order to acquire its rights associated with its Meta Financial brand.

This operation may seem surprising insofar as the activity of the bank has no connection with the metaverse. Indeed, the latter only offers online payment products in the Dakota and Iowa region.

Although this may be questioning, it demonstrates the interest of Facebook in his involvement in the metaverse.

It is in a way an additional power for the company of Mark Zuckerberg to distance its competitors and to master the use of the terms ” Meta “Or” Metaverse. That was suggested by Alexandra Roberts, professor of law at the University of New Hampshire:

“If Facebook uses its new brand to put legal pressure on other companies, it would add to the already growing tension over who owns the metaverse. “

This desire would seem paradoxical, because the objective of the metaverse is to be decentralized and therefore without a control body.

The metaverse attracts a lot of actors

Currently, the ecosystem of the metaverse is experiencing a strong enthusiasm and a lot of companies are looking at this area.

Indeed, the cryptocurrency platform Coinbase has revealed that it is in the process of developing a project in this direction.

Apart from companies specializing in cryptocurrencies, Nike recently acquired a company specializing in the creation of virtual sneakers in the form of non-fungible tokens (NFTs): RTFKT. The objective of the American brand is to establish itself in the metaverse to attract a new audience.

Before this announcement, his rival Adidas had already revealed its interest in this ecosystem by publishing a video in collaboration with Bored Ape Yacht Club, Gmoney NFT and PUNKS Comic.

👉 To discover – The Novi wallet will allow the exchange of non-fungible tokens (NFTs) in the Facebook metaverse

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About the Author : Anthony bassetto

It was in 2017 that I discovered cryptocurrencies and blockchain technology. Also, I would like to share with you the news of this sector, which is in full swing, so that you can be up to date with the latest news.
All articles by Anthony Bassetto.


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