“Instead of being an internet that we look at, right, on our mobile phones or on our computer screens, It’s an internet that we are a part of, or that we can be inside of.” — Mark Zuckerberg
“The next generation of the internet is here, the one where people can come together to game, work, and communicate in the virtual environment, frequently utilizing the VR headsets.”
Facebook on Thursday announced a shocking change at the Facebook Connect augmented and virtual reality conference, unveiling “Meta” as the new cooperate name for the wonderful social networking company we know as Facebook.
This re-branding came as a big surprise to people at the conference and created a wind-whirl around the world. The change is a clear reflection of the company’s growing ambitions to expand beyond the social networking sphere.
The word “Meta” is incorporated to put emphasis on the company’s “Metaverse” vision for the future. While the company is ready to be re-branded as a “Meta” company, the flagship social network “Facebook” will remain the same.
Mark Zuckerberg stated that from now on, the company will be called Metaverse First, instead of the old name “Facebook” during the keynote for the company’s annual developer’s conference.
Mark Zuckerberg further added that their future will focus on building virtual reality products that will connect users through different mediums. Zuckerberg has predicted that there will be around one billion people on Metaverse within the next decade.
So, What will the new “Metaverse Company Encompass?
Our favorite social networking company stated that “Meta-verse” will act as a three-dimensional virtual space where registered users will be empowered to create avatars that will represent them in a new virtual reality world. This new platform will enable the users to play video games, attend concerts, watch a multitude of movies, collaborate with colleagues, and gather around with friends and family without living in their home spaces.
Mark Zuckerberg said that the “Privacy and safety” controls will be built into the Metaverse from day one. The registered users will get to decide when they want to be with other people; when they want to block a user from appearing in their space; and when they want to take a break or teleport to a private space.
This new platform could be another revolutionizing platform, just like Facebook, and may empower the world to get a little more closely.
We will soon be watching our favorite social networking company branching out and broadening its reach beyond social media, and into various areas including Virtual reality.
Why this change, Why now, you ask?
Mark Zuckerberg mentioned that “right now their brand is so tightly linked to a single product that the existing brand could not possibly represent everything that they are doing, let alone in the future”, therefore they needed this change to further grow and broaden the reach beyond the social media.
The company has planned to expand with a hope to anchor their work and identity on what they plan to build in the future.
The company will soon be changing the stock ticker from the current FB ticker to the MVRS ticker, effective from December 1, 2021.
This revolutionary social networking company will soon begin to report its business on two different segments. One includes all their family apps consisting of Facebook, WhatsApp, and Instagram; and the second is directing their vision to future goals and platforms.
This could be viewed as a much-needed change, especially considering the revolutionization of virtual reality and the future it holds.
While the Metaverse is still years away from being fully developed and created, are you excited about it?