Facebook said it is planning to create 10,000 new high-skilled jobs in the EU over the next five years to build the next computing platform metaverse.
US-based global social media and networking service firm said metaverse, the new phase of interconnected virtual experiences using technologies like virtual and augmented reality, will create a greater sense of virtual presence.
It will enable online interaction that will be much closer to the experience of interacting in person, according to a blog post published on Sunday.
Facebook said no single company will own and operate the metaverse, but it will be open and interoperable like the internet.
"As we begin the journey of bringing the metaverse to life, the need for highly specialized engineers is one of Facebook’s most pressing priorities," Nick Clegg, vice president of global affairs, and Javier Olivan, vice president of central products, wrote.
"Europe is hugely important to Facebook. From the thousands of employees in the EU to the millions of businesses using our apps and tools every day, Europe is a big part of our success, as Facebook is invested in the success of European companies and the wider economy," they added.
Facebook said the EU has advantages for tech companies to invest, as European companies are at the cutting edge of several fields.
Some of the examples Facebook provided include German biotech for developing the first-ever MRNA vaccine, a coalition of European banks for leading the future of finance, and Spain seeing record levels of investment in startups from online grocery delivery to neuroelectronics./agencies