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Photo-Messaging App Snapchat To Launch In-App Gaming Platform

Speculations sparked about the launch of the long-rumoured platform because Snapchat's event invitation includes a tagline "Less Talk. More Play", Cheddar reported on Friday. 

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Snapchat lets users report bullying or offensive content on its platform by pressing and holding on the Snap, and then tapping the flag button. Pixabay

Photo-messaging app Snapchat is planning to announce its in-app gaming platform codenamed “Project Cognac” during its first-ever summit for content and developer partners on April 4 in Los Angeles.

Speculations sparked about the launch of the long-rumoured platform because Snapchat’s event invitation includes a tagline “Less Talk. More Play”, Cheddar reported on Friday.

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Games are becoming a new source of revenue for social networking giants. After YouTube, Facebook has also started rolling-out a dedicated gaming tab as part of the app’s main navigation.
Pixabay

The in-app gaming space would feature games from third-party developers designed specifically to work on Snapchat.

To kick start its venture in the gaming space, Snapchat acquired for $8.6 million an Australian gaming studio called Prettygreat — one of whose employees was behind hit mobile games like “Fruit Ninja” and “Jetpack Joyride”.

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The in-app gaming space would feature games from third-party developers designed specifically to work on Snapchat. Pixabay

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In 2018, Snapchat added its own lightweight, Augmented Reality (AR) games in the app. In 2017, Chinese tech giant Tencent acquired roughly 10 per cent of Snapchat’s publicly traded shares.

Games are becoming a new source of revenue for social networking giants. After YouTube, Facebook has also started rolling-out a dedicated gaming tab as part of the app’s main navigation. (IANS)

Next Story

Facebook to Launch its Cryptocurrency Next Year: Report

According to Zuckerberg, Blockchain could give users more powers when granting data access to third-party apps

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A television photographer shoots the sign outside of Facebook headquarters in Menlo Park, Calif. VOA

Facebook, which owns WhatsApp and Instagram, is gearing up to launch its own cryptocurrency next year, the BBC reported on Friday.

Called “GlobalCoin,” the cryptocurrency would work with a new digital payments system in about a dozen countries starting in the first quarter of 2020.

Facebook has been in contact with US and British financial regulators to launch it.

According to the BBC, Facebook is in touch with “Bank of England governor Mark Carney and officials at the US Treasury”.

With over two billion users across its platforms, Facebook could emulate WeChat in China which allows its users to chat, shop and play games without leaving its platform.

The Facebook cryptocurrency would need to overcome numerous technical and regulatory hurdles before it can be launched.

According to media reports, the Facebook currency could be designed to be a “stablecoin” with a value pegged to US currency in an attempt to minimize volatility.

A report last week said Facebook has reportedly set up a company called Libra Networks in Switzerland that is developing payments and Blockchain systems for the social networking giant.

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Bitcoin is a cryptocurrency and worldwide payment system. Wikimedia Commons

According to a report in CNET quoting Swiss publication Handelszeitung, the Facebook cyrptocurrency would be tied to the US dollar and could, therefore, remain stable unlike Bitcoin which has crashed.

“Facebook set up Libra Networks in Geneva several weeks ago. Libra is the social network’s internal project name for the digital currency,” the report said.

The Swiss company would focus on developing the software and hardware for currency-related functions like payments, Blockchain, analytics, big data and identity management.

Facebook declined to comment on the new report.

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According to a report in The Wall Street Journal earlier this month, the social media giant is “recruiting dozens of financial firms and online merchants” towards its cryptocurrency-based system that would use a digital coin similar to Bitcoin.

The New York Times reported in February that Facebook had a team of 50 people working on its virtual currency project.

In a public interview with Harvard Law professor Jonathan Zittrain in February, Facebook CEO Mark Zuckerberg said he is “potentially interested” in putting the Facebook login on the Blockchain technology.

According to Zuckerberg, Blockchain could give users more powers when granting data access to third-party apps. (IANS)