According to Platformer, Meta is in the early stages of exploring building a dedicated app for text-based updates. The app is codenamed P92 and will allow existing users to Instagram to log in.
The most important thing is that this new network will be decentralised. It looks like they are joining a list of social media companies who have already begun, or plan to begin, exploring decentralised networks.
Jack Dorsey's Bluesky
These are early days as there are a couple of obstacles right now:
- decentralised networks like Mastodon are getting bigger thanks to Twitter but have a tiny user base compared to existing social networks
- how will Meta, a public for-profit company, make money from this?
- just because Meta is doing it doesn't mean it will be a success. Remember Libra?
Nonetheless, an area to watch, especially as Twitter continues to flail and fail.
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