Facebook meta is hiring staff from rivals to build the metaverse

With Meta’s plan to build the metaverse already in full swing, Wall Street Journal reports have indicated that the tech company has been hunting employees of rival tech companies like Microsoft and Apple.

Meta is stealing Microsoft staff

According to the report, a former Microsoft employee revealed that the technology company’s augmented reality team had lost about 100 members to Meta.

He went on to say that Meta had targeted those who had previously worked on Microsoft’s HoloLens augmented reality (AR) headsets.

This claim was corroborated by a dig into the LinkedIn profiles of some former employees of Microsoft’s HoloLens team that showed that more than 40 had filled new positions at Meta.

In 2016, Microsoft started its work in the Augmented Reality space. This means that the majority of their staff are attractive to competitors like Meta, who could reap the benefits of their expertise in the space.

In an attempt to further protect its staff from leaving, Apple has been offering them bonuses of around $ 50,000 to $ 180,000. This is your attempt to prevent competitors from leaving.

Facebook’s Name Change to Meta Drives Interest in Metaverse to New Highs

Since Facebook revealed its intention to move into the metaverse, several traditional companies have stepped up their activities in the space.

Several of them like Samsung, Adidas, Disney, and others have made different advancements in the space as they seek to secure a place in the ongoing digital revolution.

The new wave of interest played a pivotal role in driving price performance for Metaverse-related projects to new heights last year. According to a report by Bloomberg, meta-related tokens increased more than 37,000% last year, while those of Bitcoin it stood at just 100%.

The coins have lost some of their luster in this new year due to the bearish nature of the market. However, it should be noted that the prices of these projects have risen again as the market is witnessing a mini green run.

According to data available on CryptoSlate, the top 10 tokens by market capitalization within the space have seen their value increase by more than 5% in the last 24 hours.

Projects like the sandbox have increased by more than 15%, while Decentraland the price has risen 8%. others like AXIS, ENJ and THETA are up 9%, 10% and 6%, respectively.

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Source: https://cryptoslate.com/facebooks-meta-is-hiring-staffs-of-its-rivals-to-build-the-metaverse/

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