BEIJING, December 9 (TMTPOST) —David Chen, Industry Director at Facebook Greater China, delivered a speech titled Connect with the Metaverse at the 2021 T-EDGE Conference co-organized by TMTPost, Daxing Industry Promotion Center and China New Media Development Zone.

This is the first time for an executive from Facebook Great China to openly talk about metaverse.

“The metaverse is a grander concept. It will not be created by one company,” Chen said.

Chen believes that the metaverse is an ecological concept, which marks the beginning of a new era for the Internet and computer platform.

Heated discussions about the metaverse often revolve around the linkage between the virtual world and physical world, Chen said. The metaverse is not designed to replace offline experiences but rather utilize enhanced online experiences to bring people closer to each other so that it makes the virtual experiences better, Chen explained in his speech.

“It’s like you snap your fingers, and then your families and friends will be teleported to your living room regardless where you are,” he said.

Facebook plays an important role in bridging the metaverse ecosystem for its social media gene. The company is working on creating tools and experiences and collaborating with the industry to create a metaverse ecosystem.

The integration of Facebook and Instagram is one example of metaverse development, Chen said. The company connected Facebook and Instagram to create more communities online and generate economic opportunities like online retailing. The company’s core apps, such as Instagram and Facebook, will serve as important components of its metaverse ecosystem in the future.

It is worth noting that the metaverse is consistent with different companies’ growth strategy. Going digital will be the very ticket to a digital economy and the economy of the metaverse. During the process of digitalization, companies can make use of platforms like Facebook and promote their products through VR/AR, online and offline events and limited digital commodities.

Facebook has realized that it bears more responsibilities in the metaverse ecosystem as it brings new social and economic opportunities. Economic opportunity, privacy, safety and integrity, equity and inclusion are the four key concerns for Facebook. Facebook is having active conversations with policymakers, scholars and institutions to come up with responsible ways to construct its metaverse.