Meta, formerly Facebook, is creating P92, a text-based social media app. Meta is examining a decentralized social network for creators and public figures to share timely details about their hobbies, similar to Twitter, according to a Platformer-exclusive email. Instagram users can log in to P92.
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The legal and regulatory teams are examining privacy issues, but no release date exists. Instagram CTO Adam Mosseri is leading the early-stage effort. The project’s biggest draw is that users can set up their own servers and content control rules on the open network. Meta could test a Facebook and Instagram-criticism-refuting app on an available network. Meta sets a “base” for community norms, but different groups develop their own. Reddit subreddits work similarly.
No one has built a lucrative, global-scale decentralized network, and the best business plan for such an app is unknown. Developers face issues like tracking users when profiles are spread across an extensive network of servers. The business plan of funding with non-fungible tokens (NFTs) also needs to be clarified, and the crypto economy’s collapse has made it less appealing to users. However, now is the time for new social media platforms to debut since Twitter is making the same error as Tumblr, which misunderstood its user base and lost appeal.
