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Wednesday, 27 April 2022

Wegz and Metavisionaries to support local education through metaverse, Web3 + Meta is expected to post its slowest growth since 2012

Wegz partners with Metavisionaries to provide education solutions through the metaverse and Web3: Egyptian rapper and trap singer Wegz is collaborating with Metavisionaries as an ambassador, helping spearhead the company’s efforts in Egypt, he said on Instagram. Metavisionaries believes that the metaverse and Web3 can help mitigate several issues facing humanity such as climate change, quality education, the future of work, healthcare and economic inequality. In Egypt, Metavisionaries will first focus on education, using these new technologies to make education accessible to underprivileged individuals by overcoming financial and geographical obstacles. The Metavisionaries team includes NASA’s former Chief Scientist Tara Ruttley, entrepreneurial pharmacist Wasim Ahmed, e-learning practitioner Ricardo Simms, and the former executive director of UNICEF Lithuania, Jovita Majauskaite.

There aren’t more details out as of now, but Wegz’s post promises that more information will be announced soon.

Meta is expected to post its slowest growth since its IPO in 2012 when it releases its quarterly results later this evening, the Wall Street Journal reports, citing analysts. Forecasts are penciling in revenue growth below 10.7% y-o-y, and a USD 7.1 bn bottom line, which would mark a decline in net income for the second quarter in a row. The Facebook and Instagram parent company has seen its stock price plummet since its last earnings in February, which showed lower-than-expected gains, a gloomy revenue outlook, and a drop in its daily active users. Since then, Meta shares have fallen nearly 44% and the company has lost nearly USD 388 bn in market value. Meta’s main source of revenue, its advertising business, was also hit by privacy changes it adopted on its platforms last year.

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