Facebook Inc. has said it will invest $50 million to partner with organizations to responsibly build the so-called ‘metaverse’ — a digital world where people can use different devices to move and communicate in a virtual environment.

The social media giant has invested heavily in virtual reality and augmented reality, developing hardware such as its Oculus VR headsets and working on AR glasses and wristband technologies.

In a blog post, Facebook said the new XR Programs and Research Fund will invest the money globally over two years to ensure metaverse technologies are ‘built in a way that’s inclusive and empowering, Reuters reported.

The company said it plans to work with researchers across four areas including data privacy and safety. It will also research how to design technologies that are inclusive and accessible to all users, and also ‘encourage competition’ in the nascent industry.