Why Facebook changed its Name? What is Metaverse?


Why Facebook changed its Name? What is Metaverse?

As we all know Facebook (now Meta) is the largest social media platform in the world founded by  back in 2004, and now after 17 Years, its name has been changed. Not Facebook's platform name but their Company's Name previously was Facebook Inc, now Meta.

So in this blog, you will know interesting facts behind Facebook's rename.

Facebook wants the rebrand to show how Chief Executive Mark Zuckerberg is repositioning the tech company around the metaverse, which he sees as a key growth area that can also attract younger users.

In Announcement of Meta, Zuckerberg said in a statement that “The next platform will be even more immersive — embodied internet where you’re in the experience, not just looking at it. We call this the metaverse, and it will touch every product we build.” 

“The defining quality of the metaverse will be a feeling of presence — like you are right there with another person or in another place. Feeling truly present with another person is the ultimate dream of social technology. This isn’t about spending more time on screens; it’s about making the time we already spend better” later on he added.

The Facebook CEO has emphasized, “Right now our brand is so tightly linked to one product that it can’t possibly represent everything we’re doing today, let alone in the future.”

and then Zuckerberg said, “To reflect who we are and the future we hope to build, I’m proud to share that our company is now Meta.”

Mark Zuckerberg announced the new name as he unveiled plans to build a "metaverse" - an online world where people can game, work, and communicate in a virtual environment, often using VR headsets.

The company also unveiled a new sign at its headquarters in Menlo Park, California, on Thursday, replacing its thumbs-up "Like" logo with a blue infinity shape.

"We're now looking at and reporting on our business as two different segments, one for our family of apps, and one for our work on future platforms.

"And as part of this, it is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build."

Zuckerberg said the new name, coming from the Greek word for "beyond," symbolized there was always more to build more things. He also stated the new name reflects that over time, users will not need to use Facebook to use the company's other services.

The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure.

What is the metaverse?

The metaverse doesn’t exist - at least not yet. As of today, there isn’t anything that could legitimately be identified as a metaverse. A useful parallel for understanding its maturity – with a  – may be the story of when telecoms entrepreneur Craig McCaw first heard about the internet.

Reputedly, it was Apple Chief Executive Steve Jobs who described the implications that a globally distributed network of interconnected computers could have on communications, commerce, and information. Just as you can't invest in the internet, so, too, can you not identify the metaverse as a unique product, technology, or service. A better question might be: what could become the metaverse?

Metaverse as the next major computing platform

Technologists would answer that the internet will eventually evolve into the metaverse, which will come to represent the next major computing platform. If the concept can be actualized, it is expected to be as transformative to society and industry as the mobile phone.

The internet today is often the main entry point for millions of us to access information and services, communicate and socialize with each other, sell goods, and entertain ourselves. The metaverse is predicted to replicate this value proposition - with the main difference being that distinction between being offline and online will be much harder to delineate.

This could manifest itself in several ways, but many experts believe that "extended reality" (XR) – the combination of augmented, virtual and mixed reality – will play an important role. Central to the concept of the metaverse is the idea that virtual, 3D environments that are accessible and interactive in real-time will become the transformative medium for social and business engagement. If they are to become practical, these environments will be dependent on the widespread adoption of extended reality.

Facebook shares closed 1.5% higher at $316.92 on Thursday.