In the recent past, it has been observed that Facebook, a company that owns platforms such as Instagram and WhatsApp, has made building the metaverse one of its big priorities.
The metaverse is a concept of a persistent, online, 3D universe that combines multiple different virtual spaces. You can think of it as a future iteration of the internet. The metaverse will allow users to work, meet, game, and socialize together in these 3D spaces.
Facebook decided to change its name to Meta Platforms, or Meta. Meta is a new brand that Mark Zuckerberg has replaced Facebook. Facebook, is an American multinational technology conglomerate based in Menlo Park, California. The company is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries. The future of the company would go far beyond its current project of building a set of connected social apps and some hardware to support them.
What can we expect to see in Meta?
Facebook’s already huge, and it’s already available on everything from computers to phones to the company’s own Oculus VR headsets and Portal smart displays. But it’s still just a social media service, a feed of posts combined with direct messaging, marketplace, and (fudged numbers or not) video features. Facebook’s the thing you go to check on people you know, any news that might pop up, and maybe if someone’s selling an old Game Boy nearby. And it’s just that: A single service you can walk away from.
According to Zuckerberg, Facebook will no longer be the company’s main focus and intends to use its resources to build virtual reality products. Zuckerberg also added about the name change, “meta means more and indicates that the company will move beyond what it is today; This means that in the long run, users will no longer need to use Facebook to use the company’s services.
The future of Facebook Metaverse
Facebook has transformed the company into a combination of communication channels, online shopping, social media, hardware maker, service provider, advertising platform and more.
Clearly, there is a new strategy behind this brand, and this name change is not just an apparent change. Many criticize the Facebook name change to distract people from privacy and security allegations; While some experts, such as Lam, believe that Zuckerberg’s decision could have an impact after a long time. The success rate of Zuckerberg’s decision to change the mindset of people by changing their name is 50-50, given the company’s poor public relations on its privacy and security issues and unsubstantiated allegations; Because the announcement of this brand change may be considered as a cover and make the situation worse. It may also affect employee turnover and reputation. In addition, Metaverse Facebook is a long-term project that takes at least 10 to 15 years to build, but for a company like Facebook that wants to have a new brand image, Metaverse can be attractive to the younger generation and thus attract new talent.
Meta’s two main social networks, Facebook and Instagram, are planning a big move into the nonfungible token (NFT) market, according to reports. Whether or not Zuckerberg’s big risk of renaming the brand responds to meta generally remains to be seen, but many analysts see Zuckerberg’s move as logical.