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It is a big topic. The Facebook changed name metaverse is a complete vision that spans many businesses in the entire industry. You can consider it as the successor to the internet on mobile devices.
Facebook plans to change its name itself. According to a report, this was announced on October 28 at the annual Connect Conference of the company. For Facebook, rebranding is not only about a company name switch. It is the reflection of the growing ambitions of the company. Now they focus on a new area like ‘Metaverse’.
We think most people think about Metaverse just like virtual reality. But it is an essential and clear part that we are very invested in. It is the technology that provides the online presence form. But it is not only related to virtual reality. It will be available through all of our changed computing platforms like AR & VR, PC, mobile devices & game consoles.
Mark Zuckerberg CEO of Facebook announced that his company will be branded as Meta or Meta Platforms. The new platform takes together technologies & apps under one new brand company. But don’t worry, if you are a user of Facebook this does not modify anything for you. It is also the same for WhatsApp & Instagram users. The apps and websites they are using will continue to keep their old names.
Facebook has now declared plans for a $50 million investment as part of its work to make a ‘responsible’ Metaverse. In Europe, it is going to plan new almost 10,000 jobs as part of its ‘Metaverse’ goals. But what accurately is the Metaverse and why is Facebook so financed in it? More significantly, does the change Metaverse even happen? We clarify below.
The Verge was the first who report of renaming plans of Facebook. Just like the Google parent company, we can see a new parent company that includes Whatsapp, Facebook, Instagram, and other operative platforms.
Facebook’s attempt to change its name is to support itself with the emphasis on building the Metaverse. Facebook, which also holds the Oculus VR gaming platform. It is also a part of the Metaverse and does not have a desire to be left behind in the race.
It also signs that Facebook wants to be famous for more than other social media platforms. Facebook is under monitoring scanner in most of the countries, with its US home market. But there are bigger goals at play here. That’s why we require to discuss Metaverse in the Facebook context.
The idea of Metaverse gets from the novel of cult science fiction that is Snow Crash and published by Neal Stephenson in 1992, where the words Metaverse were first used.
The Metaverse idea has also been present like a novel Ready Player One that is published by Ernest Cline in 2011. Later in 2018, it became a movie, and of course, there is the Matrix too.
On the internet, there are also many essays and blogs available. Everyone trying to explain about Metaverse meaning, reality, or what it can be. VC investor Matthew Ball has a series of nine-part on his blog.
There can be several complex answers to this question. But a simple and easy way to look at it. Metaverse is a virtual, parallel, world where its users can have change possessions, characters, & identities.
Metaverse is actual to be the post-Internet world. A reorganized computing platform of categories if you will, which is constant, and live. It is a fully digital economy, and the way the greatest Silicon Valley literati see this, Metaverse occurs both in the physical & digital realm.
The name was selected to boom the key product that Zuckerberg expected Facebook to now represent by the Metaverse. A name for online shared 3D virtual space that many businesses are attentive in making as a category of the future version of the internet.
In the future, you will be able to teleport rapidly as a hologram at the office deprived of travel, at a concert with your parents or friends living room to catch up. But it will see in the future. Not now.
For one thing, Metaverse does not want to be famous especially as a social media platform. They do not want to be a convict on other platforms. They want others to be a convict on their platform.”
Metaverse did make leaning references to Apple in its declaration, saying it required to evade a single company limitation what can you do and high fees charging. But at the University of Oxford, Max Van Kleek is skeptical that Meta will wield control itself over its metaverse.
Van Kleek says, “Is Meta going to only provide the tools rather than be the gatekeeper? I distrust that they would surrender anything that might cooperate for their position as the complete ad provider of the metaverse.”
One problem with Meta trying to be the individual company supporting the metaverse is the crucial role it will play in our lives if its future vision becomes a reality. The company has effort with outages on its important apps that detached the ability to connect for world large parts in recent months.
If such a thing were to occur in an all-pervasive VR world such as the metaverse, the significance could be huge. Bucher says, “The entire Metaverse presentation is so naïve & utopian.” Chander says, “It is yet a different world that they desire to conquer.”
Zuckerberg said that “I inspired by “meta” word due to my classic love and it also comes from the word “beyond” a Greek word.
A lot of big companies have transferred their established brands over the years. Other changed names are intended to reflect the broader ambitions of the company.
The partition makes sense in that respect. So, we will have to wait & see whether the public will go along with it.