Mark Zuckerberg renamed its social network Facebook to Meta; under this new brand, Zuckerberg assured that they would combine all their apps and technologies.
The primary goal of this new brand is to help people connect, find communities and grow businesses; in short, they aim to bring the Metaverse to life. Meta will include Facebook, WhatsApp, and Instagram, in addition to other projects like Quest, Messenger, and Horizon.
Meta and Metaverse
Just like Google that did with Alphabet in 2015, Facebook also repeated the same phase with Meta. With Meta, Facebook tried to reflect its new bet and introduced an infinity symbol which represents the primary word “M” of Meta.
To get closer to the Metaverse, Zuckerberg wants to make a clean sheet with ‘Meta’, and he named it the “Next version of the internet.”
Metaverse is demonstrated as a universe where people from their current place can present anywhere in the world virtually through Virtual and Augmented Reality (AR). One of the models of the Metaverse is Facebook Horizon; it’s a kind of ‘Second Life’ in virtual reality.
Mark Zuckerberg stated:-
“Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.”
Key features of Metaverse
Here are the key features of Metaverse:-
- Home space
- Privacy and safety
- Virtual goods
- Natural interfaces
Apart from this, to train the next generation of creators, Meta is investing $150 million. While on two operating segments, they have plans to report, and it will start with the results for the fourth quarter of 2021.
The two operating segments are:-
- Family of Apps
- Reality Labs
Moreover, Zuckerberg stressed on the possibilities of the Metaverse by showing users different introductory and demonstration videos. Over the next decade, it’s expected that the Metaverse may reach 1 billion active users, which will generate billions of dollars and will also support the millions of creators.