Mark Zuckerberg, the Chief Executive Officer and co-founder of Facebook, has been speaking about the metaverse since July 2021 which is a digital world where people can move from one device to another and communicate in a virtual environment.
In July, he told Verge the following:
“Over the next several years, we will effectively transition from people seeing us as a primarily being a social media company to being a metaverse company”
The company has also been investing hugely in Virtual and Augmented Reality and that is evident with the development of Oculus Virtual Reality headsets, Augmented Reality glasses, and wristband technology.
Recently on 19th October, Verge reported that Facebook may have a new name that will align more with the metaverse technology and might focus less on the social network. This plan of Facebook is meant to signal the company’s ambition to be known for more than just a social media platform and rebrand Facebook Inc. as a metaverse company.
The report also adds that the current Facebook social media app will be one of the products of the parent company, which will be established with a new name overseeing other brands like Instagram, WhatsApp, Oculus and more.
The new name for the company will be revealed by its co-founder Mark Zuckerberg at the company’s annual Connect conference which is yet to happen on October 28th. Though the name is planned to be revealed on October 28th, Verge has mentioned that it could be unveiled even sooner.
Such rebranding or renaming of tech giants is not the first time because the world has witnessed the reorganization of Google entirely under a holding company called Alphabet in the year 2015. Also, Snapchat rebranded to Snap. Inc in 2016 and started calling itself a ‘camera company’ debuting its first pair of Spectacles camera glasses. Thus, the rebranding of huge companies happens when the ambitions of the tech giants expand.
On the other hand, a couple of days back on Monday, Facebook announced that it will be creating 10,000 new jobs in the EU (European Union) over the next five years to work on the metaverse, a 3-D virtual environment using AR and VR technology which will allow the users to do anything and everything like from playing games to conducting work. So, this rebranding of Facebook Inc. is apparent proof that Facebook will soon enter the world of the metaverse.
“We are announcing a plan to create 10,000 new high-skilled jobs within the European Union (EU) over the next five years”, said Nick Clegg, Vice-President for Global Affair at Facebook.”
However, the services of the current Facebook app will remain unchanged in the rebranding process except that it will be seen more as a product like Instagram or Whatsapp under the umbrella of the new parent company.
Even before the outbreak of the pandemic, people have been obsessed with social media platforms as it allows them to connect with their near and dear ones right from their places. With the COVID-19 lockdown, these social media applications have started to play a major role in our life as we use them for almost anything and everything. It is cent percent true that “In many ways, the metaverse is the ultimate expression of social technology” as said by the co-founder of the Social Media Giant, Mark Zuckerberg.