Parent to Facebook and Instagram, Meta, has announced that the company is planning to create a text-based social app, similar to Elon Musk owned Twitter, which currently has over 353.90 million users.
“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,” said Meta in its latest statement.
Plans to launch the text based microblogging social media application comes at a time where Twitter, which currently is the biggest microblogging platform, is undergoing a ton of problems, ranging from a 3.3% percent decrease in users to a drop in advertising revenue.
Both the above mentioned problems, alongside a few more, started when Twitter was overtaken by billionaire ‘Elon Musk’, who is running the platform in a way that is not going well with authorities and mega influencers or celebrities.
Timing suggests that Meta is now planning to cash on this market gap created through a major user resentment and limited user growth, competing not just Twitter but also other smaller applications such as Mastodon, who have grown strong following the Twitter turmoil.
It is being reported that the microblogging application being created by Meta is decentralized and is more similar to Mastodon, which is an open-source Twitter competitor and has gained over 4.5 million users.
Built on decentralized software, the Facebook microblogging platform might have a functionality that allows users to host their own servers, giving them a power that no other Meta platform has offered before.
According to Money Control, the Twitter competitor being created by Meta is code named as P92. Upon launch, the application will allow users to simply sign up using their instagram accounts therefore streamlining the signup process and making it easier for people to come and enjoy the platform.
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