The Facebook 10-year road map, first revealed in April 2016.
While the new tools and features are impressive, analyst Jan Dawson of Jackdaw Research cautioned that that "most of them won't be in users' hands anytime soon".
He quickly pivoted to the main thrust of his keynote: augmented reality, but without the dorky glasses.
But Facebook could still have the edge on rivals such as Snapchat, which also launched some augmented reality features on Tuesday, likely to coincide with Facebook's news.
We will update this page when Facebook posts a live-stream for its keynote.
You can add sharks swimming around your morning coffee, or a virtual mug to your table to feel less alone. "As silly as effects might seem, they're meaningful because they give us the ability to share what matter to us on a daily basis". It uses precise location detection, 3D effects and object recognition to make the moving effects work.
The platform is available in a closed beta test starting today.
Facebook CEO Mark Zuckerberg said the future of augmented reality (AR) lies in your smartphone camera and not just in special goggles.
Facebook owns Oculus VR and has done a lot with 360 video and photos in the past year. "All the people and the photos and videos you interact with are brought into the virtual world". Or in a virtual park, Paris, maybe even outer space if you're into that.
"Get Creative With Camera Effects Platform: Camera-first experiences are a great way to keep people engaged".
To extend the momentum, Facebook introduced Chat Extensions for developers to enable multiple people to chat with the same business simultaneously.
Along with AR Studio, there were smaller announcements, such as "Frame Studio" for adding elements to pictures in the Facebook app. Competitors such as Snapchat, whose parent company Snap recently went public, are popular with teens and 20-somethings. For instance, one woman was sexually assaulted while playing a video game in VR. In one of the session's for Instagram, the description noted the company has begun testing offline experiences to allow for use of the app even when there's no service.
According to the F8 website, "This year's sessions feature a wide range of topics across the Facebook family of apps and services - with relevance to developers and businesses". It will be the third year in a row that Facebook has held the conference, after taking a few breaks since launching in 2007. Both Zuckerberg and David Marcus, vice president of messaging platforms, conceded that previous efforts in some areas didn't hit the mark and cautioning that the new projects will take awhile to catch on. No", he said. "I think eventually there are going to be people who want a VR product and there are going to be people who want an AR product.