Publication date: 03 Dec 2021
Meta has announced the lifting of its 2018 ban on advertising for cryptocurrency companies on Facebook!
“We are simplifying the display of cryptocurrency ads on our platform by expanding the number of regulatory licenses we accept,” announced Meta experts. According to the decision, organisations with one of 27 licences – previously there were three – will be able to advertise.
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The corporation attributed the policy change to the fact that “the cryptocurrency landscape has matured and stabilised over the years, and government regulation has increased, which has helped set clearer responsibilities and expectations for the industry.”
Former Facebook small business team member and managing partner of Fundamental Labs (the company has invested $500 million in the cryptocurrency industry since 2016) Henry Love said the changes will significantly impact the crypto industry and allow more investors access to cryptocurrencies. “We will see a greater proliferation of the cryptocurrency industry and the metaverse than ever before,” he said.
- In 2019, Facebook created a new entity, Calibra, a subsidiary that will develop software for the social network’s own virtual currency, Libra. In the first phase, Calibra is to develop and launch a digital cryptocurrency wallet and integrate it into other Facebook products.
- After a flurry of criticism from lawmakers and regulators around the world, the corporation created a version of the Novi digital wallet in October 2021. The digital currency is called Diem – it is run by an independent association that is not accessible to the public.
What’s in store for Meta and Facebook: a “shocking prediction” for 2022
Traditionally at the end of the year the Danish Saxo Bank has published a list of “shocking predictions” for 2022 that “could cause a massive shockwave in world markets”.
The list of 10 events includes the decline of social service Meta: young people are expected to leave Facebook in 2022 to protest against the use of personal data for profit. An attempt to win back a new generation by changing its name to Meta will not be successful and Facebook will find itself at the epicentre of a culture war between the over-40s and the under-40s.
Saxo Bank cites a statistic: in 2012 94% of teenagers had a Facebook account, now only 27%.
The bank predicts that Mark Zuckerberg’s company will try to buy Snapchat or TikTok to regain the trust of the young and create a “creepy Metaverse” to keep a closer eye on users, but investors will still turn away from it.
“In 2022, investors will realise that Meta is rapidly losing the younger generation and therefore the future potential and profitability of the company,” notes Saxo Bank.
What else has Saxo Bank predicted for 2022?
- Women traders will come together to attack companies with bad reputations for gender equality. They will take their cue from investors who banded together to buy or sell low-liquid stocks on Reddit. The action will be supported by politicians around the world. This way they will put even more pressure on businessmen with outdated views.
- Blockchain technology will outmaneuver Spotify. Right now, labels and streaming platforms get 75-95 percent of their revenues from auditions, but new blockchain-based technology will help creators distribute music on their own and make a profit from it. Spotify’s shares could plummet by a third in 2022.
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