Facebook Horizon is a virtual reality sandbox universe where you can build your own environments and games, play and socialize with friends or just explore the user-generated landscapes. This is Facebook's take on Second Life.
Launching in early 2020 in closed beta, Facebook Horizon will allow users to design their own diverse avatars and hop between virtual locales through portals called Telepods, watch movies and consume other media with friends and play multiplayer games together, like Wing Strikers. It also will include human guides, known as Horizon Locals, who can give users assistance and protect their safety in the VR world so trolls can't run rampant.
Facebook Horizon will start centralized around a town square. Before people step in, they can choose how they look and what they wear from an expansive and inclusive set of avatar tools. From inside VR, users will be able to use the Horizon World Builder to create gaming arenas, vacation chillspots and activities to fill them without the need to know how to code.

You could design a tropical island, then invite friends to hang out with you on your virtual private beach. An object creator lets you make anything, even a custom t-shirt your avatar could wear. Visual scripting tools let more serious developers create interactive and reactive experiences.
Facebook details its Horizon safety features on its "Citizenship" page that explains that "As citizens of Facebook Horizon, it is all of our responsibility to create a culture that's respectful and comfortable . . . A Horizon citizen is friendly, inclusive, and curious." Horizon Locals will wander the VR landscapes to answer questions or aid users if they're having technical or safety issues. They seem poised to be part customer support, part in-world police.

Horizon makes perfect sense for a business obsessed with facilitating social interaction while monetized through ad views based on time-spent. It's easy to imagine Horizon including virtual billboards for brands, Facebook-run shops for buying toys or home furnishings, third-party malls full of branded Nikes or Supreme shirts.
As Facebook starts to grow stale after 15 years on the market, users are looking for new ways to socialize. Many have already ditched the status updates and smarmy Life Events of Facebook for the pretty pictures of Instagram and silliness of Snapchat. Facebook risked being cast aside if it didn't build its own VR successor. And by offering a world where users can escape their real lives instead of having to enviously compare them to their friends, Horizon could appeal to those bored or claustrophobic on Facebook.
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Sources:
https://techcrunch.com/2019/09/25/facebook-horizon/