Meta Platforms Inc. has launched a $50 million Creator Fund aimed at enhancing its Horizon metaverse initiative. This fund is part of the company's strategy to attract brands, developers, and news services to its virtual reality platform. Additionally, Meta is introducing its first creator competition of the year, signaling a shift in focus towards mobile content. The move comes as the company seeks to strengthen its position in the competitive landscape of virtual reality, potentially positioning itself against other VR headset manufacturers and platforms like Roblox. The announcement follows recent fundraising activities in the Web3 gaming sector, including Acid Labs, which raised $8 million to develop viral games for social chat platforms, and Memes Lab, which secured $2.3 million in a seed round led by Lemniscap.