Facebook changes company name and rebrands as Meta; however, it will retain the Facebook name for the leading social media platform. Zuckerberg said the company is now on its way to becoming a “metaverse first” rather than “Facebook first”. The company’s metaverse plans; It will include features like non-fungible tokens (NFT), augmented reality, and more. Here are the details…
Surprising decision from Facebook: It’s getting meta
Mark Zuckerberg announced that Facebook will change the company name to Meta, but will keep the name of the company’s signature social media platform Facebook. The company’s shares will begin trading under the new MVRS code on December 1. At yesterday’s Facebook Connect event, Mark Zuckerberg announced that Facebook will change its company name to Meta. This reflects Zuckerberg’s focus on the metaverse, which can be thought of as a virtual world. Zuckerberg said he wants you to feel “like you’re out there with someone else” with the metaverse.
Facebook has replaced the thumb sign in its headquarters with a blue infinity sign, in addition to a new stock symbol. “Currently, our brand is so tightly linked to a single product that it cannot even represent everything we do today, let alone in the future,” Zuckerberg said of the name change.
Zuckerberg also has NFT plans
In Facebook’s virtual and augmented reality-focused livestream, Zuckerberg revealed more about what the metaverse will entail, as well as showing a demo video of the targeted virtual world. The company is already building and testing a social platform for the metaverse called Horizon. He’s also been developing VR for Oculus headsets for years. Oculus will also be rebranded as a “Meta” product in the future.
On Monday’s earnings call, Zuckerberg set expectations for Meta’s metaverse timeline, saying that the company won’t be able to tell a major “true business story” until “the end of the decade.” “I see this work as critical to our mission because it gives a sense of presence… This is the most important purpose of online experiences,” he said.
Zuckerberg also shared some details about the metaverse he envisioned. It will allow people to use apps like Slack and Instagram as well as be able to search through VR. Other plans include making Horizon more “social, a platform that allows friends to get together.” He also said that he has a plan to set up a virtual marketplace where users can trade NFTs.
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