Facebook has earlier in the month announced its intention for rebranding and since then the company has been on the process of the transition given it plans for Metaverse and now all formalities has been concluded and the company’s name reformed to be known as Meta.
The company has held on to it’s brand name “Facebook” for about 17 years now since its launch in February 2004. The new incorporated brand name will be the now known identity of the social giant parent company of Instagram, WhatsApp and Oculus.
The company’s CEO Mark Zuckerberg today introduced Meta at it’s Facebook’s Connect 2021 conference which was live streamed on the social platform app. The annual Connect conference event connects together augmented and virtual reality developers, content creators, marketers, and so many others to commemorate the company’s advancements and growth.
This year’s virtual event elaborated the feel and experience the metaverse program would bring over the coming decades — ranging from social connection to entertainment, gaming, fitness, work, education and ecommerce. However, inline with the company’s Chief executive officer, Mark Zuckerberg who stated saying “aside from connecting together its apps and technologies under one new company brand, the aim of Meta’s is also to bring the metaverse to life and help individual persons connect, find communities and grow businesses”.
What’s the Metaverse?
Going forward Mark elaborated more about the program saying that metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. Furthermore, It will allow persons all across the world to share imminent experiences with other individual persons even when they can’t be at the exact place together — and do things together which they couldn’t carry out in the physical world.
According to Mark, ” It’s the next evolution in a long line of social technologies, and it’s presenting a new chapter for the company”.
Meanwhile, at the reveling, the chief executive officer said:
“I’m proud of what we’ve accomplished over the years, and I’m far more in excitement of what’s to comes — given as we move beyond what’s possible today, beyond the constraints of screens, beyond the limits of distance and physics, and towards a future where everyone can be present with each other, create new opportunities and experience new things. It is a future that is beyond anyone company and that will be made by all of us.”
Currently, our brand is narrowly connected to one product that it can’t possibly represent everything that we’re doing today, let alone in the future. Over time, I hope that we are seen as a metaverse company, and I want to harbor our work and identity on what we’re building toward”, he said in conclusion.
Developing Facebook into a metaverse company will consume a lot of time since the motives is theoretical and may take decades to achieve. the Parent company app and its subsidiary apps still remains a giant in social networking community, generating more than $86 billion in annual revenue and serving more than 3.5 billion people globally.
The timing of the brand name transition has a double advantage to the company given that it’ has recently grappled with some of the most intense scrutiny since its establishment from Law enforcement authorities as well as the general public who have also condemned its subsidiary app Instagram tagging it as influencing certain teenagers’ and affecting their self-esteem. Also too, Facebook has previously been challenged with questioning about its role in promoting misinformation and stirring unrest with inflammatory content.
Other Announcements at the event
Not just elaborating on its vision for the metaverse program, the CEO also shared more light about the progress of the company’s foundational elements across its AR & VR technologies.
Facebook’s VR game was particularly uplifted by the release of Quest 2 thus paving way for the launch of other games that are still in the development phase. Facebook is getting more out of VR especially in the area of social connectivity, fitness and more ways VR can be used as a work device. – Mark in addition.
Facebook also announced a fortune of $150-million towards investment channeled at immerse study to train the next generation of creators.
Developer Community Investment
Mark Zuckerberg also went forward to announce the company’s intension to invest in the developer community to help them build and monetize their applications through new VR tools and features.
He further talked about the company’s interest in investing on the core AR technology especially while inclined to bring the AR glasses technology to the stock market. “We are cultivating the content, capabilities, and communities that can enrich Facebook experiences today and make the glasses a reality tomorrow”. – Mark Zuckerberg