Facebook wants to change its name to Metaverse, is it a hot spot? They may have been preparing for 7 years

Recently, there have been reports that Facebook Inc. will be renamed as Meta Universe, and this not-so-novel term has become global headlines.

The technology news site The Verge reported a few days ago that the company, known for its social network and messaging platform, will change its company name to better express its ambition to establish a meta-universe.

At the same time, the California-based company is facing legislators to review the negative impact of its platform on users, the dissemination of misinformation, and monopolistic tendencies.

Beth Coleman, a professor at the Institute of Communications, Culture, Information and Technology at the University of Toronto, said: ” Facebook has many reasons to want us to focus on other aspects .”

Facebook decides

Reshape the brand and focus on the meta universe

Experts say that in addition to the legal challenges that Facebook faces, Meta Universe is also likely to become the next frontier area of ​​social networks, and the company can create new platforms in this area to attract users.

What is the meta universe?

Like many modern technologies, this concept originally originated from science fiction. In 1992, Neil Stephenson’s novel “Avalanche” first mentioned the meta universe, describing it as a shared virtual space in which users can interact.

It is not a technology or platform owned by a company. Although it is often used to describe the digital world where users can communicate, socialize, and trade with others, the concept is actually much broader .

Adi Robertson, a senior reporter at The Verge, said: “The meta universe includes anything that seems to have emerged after the mobile Internet, that is, after the desktop Internet, it is an all-encompassing term.”

Facebook wants to change its name to Metaverse, is it a hot spot? They may have been preparing for 7 years

Ramona Pringle, associate professor of the RTA School of Media at Ryerson University, said that this is an idea that has been in the making for decades. The digital space where the digital avatar is located has been well-known from the virtual world of Second Life in the millennium, and “takes over our lives” before social networks let users stare at their phones all day.

Ramona Pringle said that the meta-universe described now will be the product of combining the original idea with the social network as we know it today .

Virtual reality (VR) and augmented reality (AR) technologies are expected to promote the development of the virtual world by creating immersive experiences for users, and may further blur the boundaries between reality and digital life.

What can users do in Metaverse?

Facebook’s vision for the meta universe is far from Stephenson’s concept of science fiction.

The company describes it as “a set of virtual spaces where users can be in it, and create and explore with others who are not in the same physical space.”

But Metaverse provides more than just a space for chatting with old and new friends . For example, in the video game world of Roblox and Fortnite, the early creators of Metaverse are popular among young players, pop stars can hold live concerts in Metaverse, and digital goods can be traded as tokens.

The host of the podcast Hello Metaverse and Roblox senior product designer Annie Zhang said, “ People want to be more immersive and actively participate in these virtual experiences. We just need to spend more time in them. To .”

Annie predicted the future of an economy that surpassed the real world. This idea began many years ago in “Second Life”. 

Facebook wants to change its name to Metaverse, is it a hot spot? They may have been preparing for 7 years

Annie said that content creators can use virtual platforms to sell and publish new music or videos, thereby freeing some people from what they call the algorithmic limitations that degrade their work.

Meanwhile, Annie pointed out that some people may turn to the virtual world, using Crypto and NFT trading “land” or other commodities, in fact, this has happened in the ether Square platform Decentraland above.

” This is a product of a system that people feel they cannot fully control or understand and must participate in .” At the same time, Annie also expressed concern that perhaps the younger generation will find it difficult to own property in the real world.

Currently, platforms such as Roblox and Fortnite operate as “walled gardens” (a walled garden refers to an environment that controls users’ access to web content or related services) that owns them. In the future meta-universe, users can use an avatar to shuttle between the worlds, bringing the goods they create or own from one platform to another.

Why is Facebook getting involved in this field?

Pringle said that current institutions’ interest in building Meta Universe may be driven by financial goals and collecting user data for marketing purposes. She predicts that the company may advertise on Meta Universe platforms to generate revenue for companies that control these platforms.

Pringle said this may make Metaverse “a very compelling, very sticky and immersive advertising medium” and users “still the target of people who want to sell products or ideologies to us . 

The transformation of social media to the meta-universe has caused a certain degree of condemnation. Pringle said that in response to dissatisfaction with social networks that “split society” or affect users’ mental health, Facebook is pushing them to invest in new experiences as a way forward.

Facebook wants to change its name to Metaverse, is it a hot spot? They may have been preparing for 7 years

Although Facebook has been criticized as it entered the meta-universe, Coleman pointed out that the company has been laying the foundation for its entry into the meta-universe for many years.

As early as 2014, Facebook acquired Oculus, a VR headset startup .

Coleman said that after several years of virtual worlds built by multiple companies that she called “banality”, the success of Metaverse will ultimately depend on which company releases a “killer app” that users flock to.

She added that given that Facebook Inc. successfully connects people to the Internet, it has more than 2.85 billion monthly users on Facebook alone , and the company may do just that.

“If you want to bet on who will make this important not only for a population, but for the whole world, Facebook has a very good foundation.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/facebook-wants-to-change-its-name-to-metaverse-is-it-a-hot-spot-they-may-have-been-preparing-for-7-years/
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