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Facebook and Metaverse


Facebook on Thursday, 28th October, announced that it has changed its company name to Meta. The name change was announced at the Facebook Connect augmented and virtual reality conference.


"The defining quality of the metaverse will be a feeling of presence – like you are right there with another person or in another place," said Facebook boss Mark Zuckerberg as he announced the new name as he unveiled plans to build a "metaverse".


While this new transition has been applauded by many, several others have been rather skeptical about it, raising questions about this being the next “iPhone moment”, since Zuckerberg sort of quoted Jobs from his memorable iPhone speech (“But there is one more thing…”). Several others are asking if Metaverse will be a new platform to promote cryptocurrency and several others yet are asking if this is just a publicity stunt to drive the attention away from Facebook’s recent document leak.


What is Metaverse?

It's a hybrid of technology features such as virtual reality, augmented reality, and video in which users "live" in a digital realm. The metaverse's supporters envisage its users working, playing, and remaining connected with pals through everything from concerts and conferences to virtual excursions around the world.


What can we expect to see?

Mark Zuckerberg, the CEO of the newly renamed Meta (previously Facebook), predicts that the metaverse's primary capabilities will take five to ten years to become ubiquitous. However, some features of the metaverse are currently visible. Even if they aren't available to everyone, ultra-fast broadband rates, virtual reality headgear, and persistent always-on online worlds are already available.


All questions aside, Impact Study Biz would like to congratulate META for this amazing transition, and we cannot wait to see what happens next.


Do tell us what you think of this change. How soon will the new name catch on? What’s your opinion on the new logo? Is META going to be the first company to venture into the era of the Metaverse?


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