From Facebook To Meta

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Facebook Inc. recently announced that it will adopt a new name that better reflects the company’s vision for its great move forward into the metaverse. On Thursday, October 28, the company unveiled its new name that is Meta and announced the new goals it will set from that change. You are probably wondering how this shift will affect our daily life, we the users and consumers of this giant’s products.

What really happened?

Mark Zuckerberg, CEO, announced the name change at the Facebook Connect event. “To reflect who we are and what we hope to build, I’m proud to announce that as of today, our company is called Meta,” Zuckerberg declared. “From now on, the first thing we’re going to be is a metaverse, not Facebook.” 

Facebook Inc. will therefore change its name to Meta. This will be the name of the structure that will cover all the activities of the company, whether it is social networks like Facebook or Instagram, WhatsApp or connected glasses and the Oculus Quest 2, which as for them will not undergo any major changes.

A strategy that recalls the one carried out by Google in 2015 with Alphabet to gather all its activities under the same banner, even if, in the end, the group is still essentially referred to by the name of its search engine. Meta also reminds us the concept of the metaverse, refering to the transposition of the real universe into the virtual one, for which Facebook is investing a lot in recent months.

“Connections are evolving and so are we,” the company says on its new website. “The metaverse is the next evolution of social connections. Our company’s vision is to help bring the metaverse to life, so we’re changing our name to reflect our commitment to that future,” Zuckerberg said.

Of course, shifting the name of Facebook for Meta and talking about the future comes at the right time when the firm is in the grip of the troubles caused by the revelations of Frances Haugen, the whistleblower of the famous Facebook Files. Since the publication of these compromising internal documents and the hearing of this ex-employee in front of the American Congress, the reputation of the social networking giant is quite tarnished. The effects are felt strongly at the level of the stock market where its price has plummeted. It is therefore by draping himself in this new veil of Meta that Mark Zuckerberg seeks to forget these incidents.

By investing in the metaverse, Facebook is also projecting itself into the future and intends to be the main stakeholder in this virtual universe. Its $2 billion acquisition of Oculus in 2014 has brought it closer to virtual and augmented reality over the years. Moreover, the company is also starting to ramp up connected accessories. In addition to its pair of glasses made in collaboration with Ray-Ban, a new connected watch stamped Meta should be released during the next summer, a watch taking the design of the Apple Watch, but featuring a small camera to take photos and videos directly.

The Forthcoming of “Meta”

The metaverse
Meta Image

In addition to the news about the name change, Facebook shared some updates on their plans related to the metaverse:

– Zuckerberg pointed out that augmented reality is more complex and more opimal than virtual reality.

– The company announced the “Project Cambria”, which they say is not a “new Oculus” but much more.

– Facebook is working on several new products for the metaverse, including virtual reality elements.

– Zuckerberg has repeatedly mentioned non-fungible tokens (A non-fungible token (NFT) is a special type of cryptographic token that represents a digital object such as an image, video, audio file, to which is attached a digital identity that is linked to a non-empty set of owners) .

– Users will be able to log into Oculus in the future without a Facebook account.

– Growth in the metaverse could be seen in segments such as desktop, fitness and gaming, according to Zuckerberg

– “Grand Theft Auto: San Andreas” by Take Two Interactive Software will soon be available on Oculus. The game is considered one of the entry points to the metaverse for many people.

One thing is certain; we are witnessing the birth of a new era that will be governed by a new universe to which Meta intends to impose itself.

 

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