From last Thursday, Facebook Inc is called “META.” The decision to change the name highlights the growth achievements and opportunities beyond the namesake.
Why did this happen?
Facebook wants a rebrand that shows the will to owe the metaverse. CEO of the Facebook, Mark Zuckerberg announced to attendees at the company’s annual Connect conference: “Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future. Over time, I hope that we are seen as a metaverse company, and I want to anchor our work and identity on what we’re building toward.”
“The next platform will be even more immersive — and embodied internet where you’re in the experience, not just looking at it. We call this the metaverse, and it will touch every product we build.” -Zuckerberg.
What exactly is the metaverse?
Metaverse acts as an online world where, often using VR headsets, glasses, or devices, a person can attempt work, gaming, and communication as well in a virtual environment. Although, there is a lot of speculation about what will be the feel of this new “virtual environment”.
As per some tech experts, Metaverse might include online shopping and social interactions too. The metaverse market size predictions may come true.
“It’s the next evolution of connectivity where all of those things start to come together in a seamless, doppelgӓnger universe,” she said, “so you’re living your virtual life the same way you’re living your physical life.”- Victoria Petrock.
Where does the name come from?
Zuckerberg said the word “meta” is a Greek word that stands for “beyond,” symbolizing there was always more to build. He also mentioned in the report that the new name reflects that over time, users will not need to use Facebook to use the company’s other services.
Why is it different?
The owner also demonstrated with a video what the metaverse could look like, with people connecting as avatars and being transported to digital versions of various places and differentiated time periods. He said that “the metaverse would need to be built with safety and privacy in mind.”
The company, which has invested abandoned in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change it’s the purpose of the corporate structure. As per the market analysis, Facebook shares closed 1.5% higher at $316.92 on Thursday.
Apart from this big news, Facebook also launched its own pair of smart glasses with Ray-Ban this year. Also shouted for a slew of new AR and VR product updates during Connect. This is opening a way for people using its Oculus VR headset to call their friends using Facebook Messenger and for people to invite others to a social version of their home, dubbed “Horizon Home.”
“The whole presentation of the metaverse is so utopian and naive,” says Bucher. “It makes a lot of sweeping assumptions about how people live their lives. I’m sure not everybody would be so thrilled about [having it in] the home space.”
“This is yet another world that they want to conquer,” says Chander. “Having conquered the Earth, they now want to conquer the virtual metaverse.”
Metaverse is helping in hiring’s!
Facebook is also looking to plan to hire 10,000 people in the European Union(EU) to develop a so-called metaverse. Facebook will be providing employment in the upcoming five years to highly specialized engineers. EU investment gifted many features like-
- Access to the large scale consumer market,
- Top class universities,
- High-quality talent.