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The social network has been criticized for spreading misinformation and other issues but claims it is on the verge of a new digital frontier called the metaverse.
With its blue-and-white letter F logo, Facebook has been one of the most recognizable brands globally for the past two decades.
Those days are over. As part of a rebranding effort, Facebook took a huge step toward a complete overhaul by deemphasizing Facebook’s name and rebranding itself as Meta.
What Changes are Made Facebook Under The Meta?
Several changes were made to the company’s logo, including a symbol shaped like an infinity sign that was slightly off-center.
It is expected that all of Facebook’s apps, including Instagram, WhatsApp, and Messenger, will be under Meta.
It illustrates Mark Zuckerberg’s plan to refocus his Silicon Valley enterprise on connecting disparate digital worlds into the ‘metaverse,’ which he believes is the next digital frontier.
Meanwhile, renaming Facebook is likely to distance the company from the social networking controversy, including disseminating hate speech and misinformation.
Throughout a virtual event on Thursday to promote Facebook’s technical breakthroughs, Mr. Zuckerberg stated that he ponders a lot about our identity with this new chapter. My ambition is that we will someday become a metaverse industry leader.”
Zuckerberg’s move telegraphed that Facebook was moving beyond today’s social networking, a foundation its founders built 17 years ago.
As a company with so many apps and a fundamental mission to connect people, it is no longer viable to use Facebook as its name.
In addition, Mr. Zuckerberg noted that Facebook is committed to building a composite universe blending the online, virtual, and augmented worlds so people can seamlessly move between them.
The concept of the metaverse, according to him, is the next major social platform, and multiple tech companies are planning to build it in the coming decade.
Facebook said on Monday that it would split its virtual reality and augmented reality operations into a new company called Facebook Reality Labs.
However, the concept is theoretical, so it may take years to transform Facebook into a metaverse company.
In addition to generating over 86 billion dollars in revenue annually, Facebook and its sister apps will also continue to be a giant business.
Changing the name at the right time has a double advantage.
Facebook has been investigated more closely in recent weeks than ever before.
Authorities and the general public have chastised Instagram for allegedly undermining youngsters’ self-esteem through its photo-sharing app.
As a result of inflammatory content and amplifying misinformation, the company faces scrutiny.
Following the leak of internal Facebook documents, which revealed the extent to which the company knew about the damage it was causing, the outcry reached a fever pitch.
According to The Wall Street Journal, The New York Times, and other media outlets, Haugen’s documents revealed important information.
Over the past year, congressional hearings and legal and regulatory scrutiny have ensued in response to the revelations.
She urged lawmakers in Parliament to regulate Facebook in a speech on Monday.
According to the social media company, its employees should preserve internal communications and documents from a year ago since the government and legislative bodies had begun investigating it.
It is rare for corporations to rebrand, but it has happened before. Historically, they have been used to announce a restructuring or separate a corporation from a bad image.
It reorganized itself earlier this year under the Alphabet parent company, separating itself into separate businesses to better differentiate itself from moonshot projects in other areas.
Qwikster, Netflix’s DVD-by-mail division, was briefly rebranded Qwikster when the company announced intentions to divide its video business in two in 2011.
As a result of last week’s report by The Verge that Facebook might change its name, social media exploded with less pleasant comparisons.
After years of damage to its reputation over the high costs and risks of smoking cigarettes, Philip Morris rebranded itself to Altria Group in 2001.
Nick Clegg, Facebook’s global policy and communications director, criticized the comparisons as “extremely misleading.”
The Facebook rebranding is mostly cosmetic. MVRS shares will begin trading on Dec. 1 under its ticker MVRS.
Meta will be the new name of some of the company’s virtual-reality products, replacing Oculus.
An executive change was not announced, nor was the company restructured.
Facebook’s CEO and chairman remain Mr. Zuckerberg. His majority vote over any changes that may affect the company’s future is decisive.
As long as Mark Zuckerberg doesn’t relinquish any control and succumbs to functional corporate governance, it will remain Zuckerberg Inc., says Jennifer Grygiel, assistant professor at Syracuse University, as well as a social media researcher.
The metaverse announcement has been building for months on Facebook.
The Oculus Quest 2, the latest and most advanced virtual reality headset, was released last year.
The company announced the Horizon Workrooms virtual-reality service in August. The virtual meeting room allows remote workers to participate in in-person meetings if they are using virtual-reality headsets.
Moreover, it announced in September that its new eyewear line with Ray-Ban can record videos.
Mr. Zuckerberg acknowledged on Thursday that these products are part of a metaverse that sounds like science fiction.
The chief technology officer of Facebook, Andrew Bosworth, has also stated that the metaverse will not be possible without significant technological breakthroughs.
Furthermore, the business is working on new kinds of virtual reality and augmented reality devices that are less expensive, smaller, and more immersive.
Nonetheless, Zuckerberg praised the concept as a “successor to mobile internet” and stated that the emphasis would shift away from mobile devices.
He said that the structure for the metaverse was already in place.
He displayed an avatar of himself taking himself to other digital realms while engaging with his family members and friends from everywhere in the world to demonstrate this concept.
Facebook founder Mark Zuckerberg said creating the metaverse would require teamwork between different technology firms and new forms of governance that would not be achieved in the short term.
The author suggested that the metaverse may be beneficial in various fields, including video games, fitness, and job.
Facebook founder Mark Zuckerberg demonstrated Horizon Workrooms, a product for collaborating remotely on different projects.
Video games with immersive features were discussed. Horizon Worlds, a virtual reality-based social media platform where friends and family might congregate and connect, was also showcased.
Success is partly determined by the creation of new applications and programs in the metaverse.
The same is true in the computing ecosystem if people have access to software and programs.
As a result, Mr. Zuckerberg stated that he would continue to provide low-cost or free services to developers while also attempting to attract additional developers through creator funds and other capital expenditures.
Facebook has funded a wide range of immersive learning apps and programs with $150 million, among other things.
The commitment is complete, he said. “Now we move forward.”
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Has Facebook re-named itself, Meta?
During a major rebranding effort, Facebook changed its name from “Facebook” to “Meta.” Facebook says the metaverse is the future of social networking and called the new name to focus on it. Mark Zuckerberg stated that Facebook will remain known as the “blue app.”
What is the point of Facebook going meta?
The emergence of the ‘metaverse’ has us wondering what it is. The company said in a statement that the new name was intended to bring all its products under one brand. Facebook has purchased Instagram and WhatsApp since the firm’s launch in 2004.
What does Facebook stand for now?
Facebook has re-branded to Meta in an attempt to establish a “metaverse.” Despite its rebranding, the company has been dogged by a series of controversies regarding its various businesses – particularly the main Facebook platform and Instagram.
What does the word meta mean to Facebook?
Meta is the name that Mark Zuckerberg chose because it reflects what Meta does and the future it wishes to help build. Furthermore, he explained that it means ‘beyond’ in Greek.
What will the name of the Facebook app be?
There will be no name change for Facebook. Instagram, Facebook Messenger, as well as WhatsApp will continue to operate as before. Despite the company’s predicament, the CEO and top management remain unaltered, at least for now.