Social networking giant Facebook renames itself Meta
After 17 years, Facebook, the social networking giant which has Whatsapp and Instagram under it has renamed itself as Meta.
“Meta’s focus will be to bring the metaverse to life and help people connect, find communities, and grow businesses,” said Mark Zuckerberg, Founder of Facebook, now Meta.
“In this future, you will be able to teleport instantly as a hologram to be at the office without a commute, at a concert with friends, or in your parent's living room to catch up. This will open up more opportunities, no matter where you live. You’ll be able to spend more time on what matters to you, cut downtime in traffic, and reduce your carbon footprint,” Mark said in a blog post.
The concept was first mentioned in the science-fiction novel Snow Crash by Neal Stephenson in 1992.
Metaverse is a 3D, online universe that combines various virtual spaces. This 3D universe will allow users across the globe to chat, participate, meet and work in games together.
With users controlling their digital avatar, the metaverse will be driven by AR and VR.
Mark said, “From now on, we will be metaverse-first, not Facebook-first. That means that over time you won’t need a Facebook account to use our other services. As our new brand starts showing up in our products, I hope people around the world come to know the Meta brand and the future we stand for.”
The founder of Meta made it clear that the metaverse will be built by creators and developers making new experiences and digital items.
“We don’t build services to make money; we make money to build better services,” Mark Zuckerberg said.
This new corporate entity comes when the company envisions an alternate virtual existence of individuals using AR and VR technologies.
Meta expects that it will unlock a larger creative economy than the one constrained by today’s platforms and their policies.