Facebook on Thursday, October 28, 2021, announced that it has changed their company name to Meta.
Some people like to explain Meta as "most effective tactics available", but on Meta official website, it says:
Connection is evolving and so are we.
The metaverse is the next evolution of social connection. Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future.
Facebook CEO Mark Zuckerberg introduced Meta at Connect 2021. He said that this new name Meta "brings together our apps and technologies under one new company brand. Meta’s focus will be to bring the metaverse to life and help people connect, find communities and grow businesses."
Facebook said in July they developed a team to work on the metaverse concept and later added that the company was looking to hire engineers for the project.
“We are at the beginning of the next chapter for the internet, and it’s the next chapter for our company too,” Zuckerberg wrote in the letter. “Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers.”
Zuckerberg mentioned the changes while talking about work applications for VR. Here’s what he said:
“As we’ve focused more on work, and frankly as we’ve heard your feedback more broadly, we’re working on making it so you can log into Quest with an account other than your personal Facebook account. We’re starting to test support for Work Accounts soon, and we’re working on making a broader shift here within the next year. I know this is a big deal for a lot of people. Not everyone wants their social media profile linked to all these other experiences, and I get that, especially as the metaverse expands. And I’ll share more about that later.”
Facebook also said it was putting about $10 billion into developing the necessary technology to create the metaverse.
Facebook will also change its stock ticker from FB to MVRS on December 1st, 2021. the company said at the conference. Meta’s stock price closed up on Thursday.
Are We in the Metaverse Yet?
Crypto people say they’re building it. Gamers might already be living in it. The art world is cashing in on it. Web veterans are trying to save it. But what is it?
The metaverse is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually. Augmented reality overlays visual elements, sound, and other sensory input onto real-world settings to enhance the user experience. In contrast, virtual reality is entirely virtual and enhances fictional realities.
As the metaverse grows, it will create online spaces where user interactions are more multidimensional than current technology supports. Instead of just viewing digital content, users in the metaverse will be able to immerse themselves in a space where the digital and physical worlds converge.
Metaverse is a digital world where people participate in digital identities, not with digital accounts, but with an independent and unique digital identity. The only difference is that in the real world, there is only one you in the physical state, with one real identity, while in the meta-universe, you can have multiple digital identities. Continuously forming new consensus through free participation, this is the way to play in the meta universe.
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