Facebook Inc. Rebrands As Meta To Stress ‘Metaverse’ Plan

Facebook name change – In order to emphasize its “metaverse” future, Facebook has re-branded as Meta.

Facebook CEO Mark Zuckerberg said that the company is rebranding itself as Meta to accommodate its vision of the future – what Zuckerberg calls the “metaverse.”

As the name suggests, The Facebook Papers were leaked by a consortium of news outlets including AP. Some sceptics believe it’s an attempt to change the subject away from these papers etc. Many documents, first described by former Facebook employee Frances Haughen, have revealed how Facebook ignored or dismissed warnings about the negative and often harmful consequences its algorithms caused.

Facebook, which owns Instagram, WhatsApp and Messenger, will keep its corporate structure the same. On December 1st, 2021 their stock price will change to “MVRS”

“Facebook has been accused of creating something that is harmful to people and society,” says marketing consultant Laura Ries. She compared the name Meta to when BP rebranded to “Beyond Petroleum” to escape criticism that it harmed the environment. “They can’t walk away from the social network with a new corporate name and talk of a future metaverse.”

Zuckerberg has described the metaverse as a virtual environment that’s created by an AI. Think of it as the internet brought to life or at least rendered in 3D. Basically, it’s a whole new world for people who use virtual reality and augmented reality headsets. There are endless open worlds you can explore with other people.

Analysts say that e-commerce giants will continue integrating social media and other aspects of our online life. Victoria Petrock, an analyst who follows emerging technologies, says Facebook will present the option to purchase items directly from story feeds.

Other companies such as Microsoft, Nvidia and Epic Games have also been outlining their own visions of how this future will play out.

When Rich Kerris, vice president of Nvidia’s Omniverse platform, was told about Facebook’s new name by a reporter today, he gave the following quote: “That’s cool.”

“We think there will be lots of companies building fantastic worlds and environments in the areas outside of reality, in the same way there are many companies doing things on the World Wide Web.”

Facebook CEO Mark Zuckerberg has been talking up the near-term future of virtual reality recently, and his latest prediction might make you hyperventilate a little. Zuckerberg predicts that the metaverse will reach billion people in the next 10 years, and he says it might get there even faster if enough people work together to develop content & products for it.

The announcement follows Facebook’s struggle with lawmakers and regulators over the past few months due to revelations in the Facebook Papers.

Cathy and the Net Branding Digital Team

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