In its effort to rebrand the company, popular messaging platform, Facebook has changed its name to Meta. The change was announced on Thursday by the company’s CEO Mark Zuckerberg at the Facebook Connect augmented and virtual reality conference. According to the company, the new name would better “encompass” what it does now. The name change is expected to bring the company’s “apps and technologies under a single brand.
Making the announcement, Zuckerberg said; It plans to build what it calls a Metaverse, where people can work, game and communicate in a virtual environment, using VR headsets.
From now on, we’ll be Metaverse first, not Facebook first. Over time, you won’t need to use Facebook to use our other services.
Back in July, the company announced the formation of a team that would work on the Metaverse. Zuckerberg on Thursday, wrote in a letter said;
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
Over the years, the company has been involved in hardware development and is introducing a line of Portal video-calling devices. Other area includes digital wallet Novi and virtual reality system Oculus.
About The Metaverse?
The Metaverse according to Facebook, is expected to a virtual world you can plug yourself into and do — in theory — almost anything. If you have seen movies like the Matrix, Ready Player One and Tron then you might try to understand what Facebook is building.
While the company is not expected to start making money off its new project, it is hopeful that the project will be successful. Mr Zuckerberg told analysts that;
This is not an investment that is going to be profitable for us any time in the near future. But we basically believe that the metaverse is going to be the successor to the mobile internet.
The company believes that metaverse will be the successor to the mobile internet. We hope to see what the future holds and how it plans to win the heart of millions after data breach saga.
