Meta Platforms, the parent company of Facebook and Instagram, is delving into the development of a text-based social app to compete with Twitter and Mastodon.
In response to the ongoing turmoil on Twitter and the erosion of user trust in the platform, Meta aims to fill the void by creating a separate, decentralized space for sharing text updates. Moreover, the company sees an opportunity for creators and public figures to share timely updates related to their interests.
A spokesperson for Meta stated, “We’re exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,” as reported by BBC.
Twitter has faced challenges with advertising and has experienced a decline in user confidence, leading the company to curtail spending. Additionally, issues arose after the reinstatement of suspended accounts and the introduction of a paid account verification system, which opened the door for scammers impersonating businesses.
Dubbed codename P92, the app being developed by Meta will enable users to log in using their Instagram accounts. Similar to Mastodon, a Twitter-like service launched in 2016, the forthcoming app expected to adopt a decentralized structure.
Furthermore, as Meta strives to capture the attention of younger audiences, it faces competition from Apple’s recently unveiled AR/VR headset, posing challenges for the company’s investment in the Metaverse.
Moreover, Meta’s venture into the creation of a Twitter rival reflects its pursuit of alternative social media avenues, aiming to offer users a decentralized platform for sharing text-based updates.
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