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  • in reply to: Will Facebook’s rebranding stop the Meta…Curse? #10244

    Great article Yenli! A truly engaging read.

    I found your point about Facebook (or Meta I guess) earning the attention of younger users through increasingly immersive experiences quite interesting.
    There’s also a strong precedent of gamers, for instance, spending exorbitant amounts of money on digital assets that only have value within that specific digital economy. So I think Meta really has a chance, through the creation of its digital ecosystem and through it’s diversification into hardware, as you mentioned, at finding solid new revenue streams and shifting away from their heavy reliance on the ad service, recently hit by Apple’s privacy policies and the like.

    A troubling realisation is that people are often willing to sacrifice their privacy for convenience. So if Meta manages to integrate itself well enough into people’s lives, it may be able to continue brushing off various scandals.
    They also get an opportunity to use the environmental card in the marketing campaign, advertising the metaverse as saving people travel, for example.

    On the other hand, still lots of potential issues and liabilities, from child safety to financial fraud concerns.

    in reply to: What’s the ☕ on NFTs? #9978

    For sure! There are some ‘blended’ initiatives coming through as well, like blockchain-backed art funds, where shares themselves are NFTs, but the art being invested in is, for the lack of a better word, real, and these are quite popular with young investors, as you said!

    in reply to: What’s the ☕ on NFTs? #9953

    A great overview of NFTs! Coming from an art world perspective, subjective and sometimes inflated value has been assigned to items (or ideas of items) before and isn’t anything new (see Salvador Garau’s “invisible sculpture” being sold for €15k or the infamous banana taped to a wall for $120k). I believe the ownership of “things” has expanded beyond the material world a while ago into the conceptual realm.
    My concern with NFTs is the level of trust/mistrust consumers have in the underlying technology, its security, and the uncertain regulatory landscape regarding copyright and ownership. I believe this, together with the NFT market’s inherent volatility at this formative stage, may put off some more risk-averse investors/collectors. It would be interesting to see whether NFTs start further inhabiting the truly common everyday life or stay in the collectors’ bubble.

    in reply to: Will Facebook suffer as a result of its outage yesterday? #9920

    I don’t think this is a serious threat to Facebook in its current form. However, with its plans for expansion from anywhere like the metaverse to smart glasses to Facebook pay, the reputational damage and increasing lack of trust might present a significant roadblock to such ambitions, especially coupled with its history of sketchy data use. And now with the outage – imagine most of your online life depends on Facebook’s functionality, say, in its VR space, and that just switches off for an unspecified amount of time!

    Several of my friends downloaded Telegram after the outage (whose user base increased by 25% in less than a year to over 500 million, not least due to WhatsApp-related concerns mentioned by Xenia). The platform undoubtedly has some blatant criminal activity and cyber security issues that may warrant attention from regulators, but seems to be a popular alternative.
    Certainly an interesting landscape to watch.

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