Meta (META), the parent company of Facebook, is working on a decentralized text-based app, according to a report by Tech Crunch on Friday.
The app will be a standalone product for sharing text updates, according to the report, citing a Meta spokesperson. The news was first reported by Indian business news site MoneyControl.
“We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,” the report said, citing a Meta spokesperson.
The app, which is still under development and codenamed P92, will allow users to log on using their credentials for Instagram, the photo-sharing social media site also owned by Meta.
Meta did not immediately respond to CoinDesk’s request for comment.
