Meta Exploring New Social Network To Compete With Twitter

(RTTNews) - Facebook's paretn Meta Platforms Inc. (META) is reportedly exploring to create a new decentralized, text-based social network that could compete with Elon Musk's Twitter.

"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," a Meta spokesperson told Fox Business in an emailed statement.

According the report, Meta's new app - codenamed P92 - would support ActivityPub. ActivityPub is a decentralized social networking protocol that powers Mastodon and other federated apps.

The project is being led by Instagram head Adam Mosseri, tech newsletter Platformer said. Furthermore, the new app would allow users to log in using their Instagram account information.