Amid the ongoing decline of both advertisers and users on Twitter, it seems that Meta may be taking over the space. The company is in the process of building its own “decentralized social network” specifically for posting text.
The news that Meta was working on the app was first reported by MoneyControl, and later confirmed to Platformer via email.
“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,” the company confirmed to Platformer.
Per the original report, Meta’s app is codenamed P92 and is still in the early stages of development. Instagram CEO Adam Mosseri is leading the project, according to Platformer’s sources, and future users will be able to login using their Instagram credentials. Little otherwise is known about the project.
Twitter co-founder and former CEO Jack Dorsey had previously called for a decentralized version of the app that would be less liable to censorship. Last week, he launched his own Twitter alternative called Bluesky.
Stay tuned for more updates as the story develops.
In other tech news, Apple’s rumored HomePod with a 7-Inch screen will reportedly roll out in 2024.
