Meta, the parent firm of Facebook and Instagram, is working on a standalone, text-based social network app. It could rival both Twitter and its decentralised competitor, Mastodon.
The app, codenamed P92, is still at the development stage. A source close to the development said that it is still a work-in-progress.
The app will be Instagram-branded and will allow users to register/login to the app through their Instagram credentials, they said.
A Meta spokesperson said in a statement: “We’re exploring a standalone decentralised 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.”
Meta’s plans come at a time when its biggest platform, Facebook, is struggling to attract the attention of a younger audience.
It has also heavily invested in the metaverse, a virtual world where users interact and work - which has yet to come to fruition.
Its video-sharing app, Instagram, is also facing stiff competition as content makers or hit influencers abandon the platform for TikTok.
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