In late October, Facebook announced new changes to its mother company and revealed a name change – Meta Platforms Inc, or “Meta.” Aside from that, it also changed its logo from a blue “like” button to a blue infinity sign.
The major rebrand comes at a crucial time for the company. It is currently facing a storm of ethical issues following leaked documents. However, Meta and its metaverse could very well be the future of our world.
Into the Metaverse
The metaverse is the latest trend word in the world of Big Tech. Basically, it is meant to explain the collection of virtual worlds in a connected online network. Meta Facebook hopes to access this metaverse through the use of virtual reality (VR) tech.
For those who aren’t aware, VR is a computer simulation that mimics the real world. It exists purely in the digital space, but it has been used in different real-world fields. In fact, it is mostly used in video games.
Meta/Facebook’s meaning for the tech world is huge. Its goal is to be an online world connecting communities in a venue where people can meet, work, or play. Users will use VR headsets, special glasses, and apps to access the 3D “virtual environment.”
Users can go to virtual concerts, online trips, or even buy digital clothing in the new space. With online communities growing much stronger during the pandemic, Meta provides new avenues for the future of connection.
Why Meta?
But let’s address a common question social media users have – what does meta mean? The term comes from the Greek word that means beyond. According to Meta Facebook owner Mark Zuckerberg, the name change is supposed to “encompass” their attempt to venture into VR.
He says that Meta will not interfere with the company’s individual social media platforms, Facebook, Instagram, and Whatsapp. Instead, it will be its own VR platform.
The Meta rebranding is a huge move forward for Facebook. As an innovator in the field of tech, it has tried to sell VR software to companies to use with its Oculus VR headsets. Reviews, however, have been less than great. In addition, the headsets themselves cost $300 each, making the metaverse a bit too out of reach for the average person.
But that’s not all Meta should be worried about.
Will Meta Stick?
In 2015, Google pursued a similar rebrand. It changed its company name to “Alphabet”; however, the name did not catch on. Many Big Tech rebrands have so far failed, and Facebook might not be so different.
But that’s the least of the company’s worries for now. Many believe the rebranding is an effort to distract from the company’s issues, which include former employees accusing the company of mishandling essential user data. Reports have also shown that Facebook withheld important data about vaccine misinformation. In addition to that, claims say it refused to crack down on hate speech on the platform. Because of these issues, US Senators and other critics have accused Zuckerberg of using rebranding as a way to save its name.
Aside from the backlash, Meta is not yet a completed platform, so there’s no product or service that potential users can check out yet. So far, only ads have been released. The high price points of the gear required to use the technology are also not appealing for many.
Uncertain Future
But maybe the metaverse isn’t such a crazy idea.
Currently, Microsoft and Nvidia are also considering building their virtual worlds. Whatever the case, Meta Facebook means a new era for meeting and interacting with people.
And one thing has remained consistent in what the rebranding spells for the future – Zuckerberg’s sights are no longer in developing Facebook; it’s already on Meta.
