Lately, all of us have been hearing a lot about Facebook rebranding as Metaverse in recent weeks, and part of it has proved to be correct. Meta is indeed the new name for this social media giant.
Be that as it may, Facebook, the social media platform will continue to exist. The firm that encompasses Oculus, Instagram, Facebook, as well as WhatsApp is now known as Meta. Therefore, this is essentially a makeover of the parent corporation. The brand-new name, Meta, now encourages users to join it in its upcoming phase, predicted as a three-dimensional voyage into the metaverse, which the firm envisions as the internet’s imminent tomorrow.
However, many experts question if the users will trust the organization enough to be onboard with Zuckerberg’s grand and equally audacious approach.
The Vision Behind the Name-“Meta”
The firm assumes that the metaverse could be the subsequent step in the progress and development of how we utilize the technology. Meta will be split into 2 business units: Family of Applications as well as Reality Laboratories. The former will be containing every one of your apps and the latter will house anything relating to AR & VR. It strives to aid individuals in networking, finding communities, and expanding enterprises.
According to the company, The metaverse will ensure an experience of a combination of current online social interactions, occasionally enlarged beyond 3 dimensions and reflected further into the material realm. Additionally, it will allow people to enjoy interactive elements even if they are far away from each other. You will be able to engage in activities together that you can’t do in the real world. It is the latest in a series of social innovations.
Will It Make A Difference?
This move makes sense from an investing standpoint. Wall Street will benefit from the firm’s reorganization and the establishment of FB’s Reality Labs to hold its profit-exhausting VR projects. A similar situation was seen with Alphabet, it allowed Google’s owners to position the firm’s hugely risky and unproductive components in a dangerous part of the profit and loss. This framework has served the organization well. Alphabet is currently valued 1.5 times more than what it was when known as Google, but it reflects far more than simply a rebranding.
This step also provides Zuckerberg with significant control over Meta’s fate. According to Zuckerberg’s remarks at the launch, Facebook has been always influenced by other smartphone companies, namely, Google & Apple. The social media behemoth has relinquished part of its control over the goods it develops. It is now constructing a reality that it will govern. It refers to the operating software.
Is Meta Safe?
Safety and confidentiality are major concerns for a prospective metaverse. It will not just be traditional information such as gender or age that might be exploited by online trolls, hackers, or even governments, but also our nonverbal cues like body movements, emotions, and biometrics. Our attitudes, ideas, as well as society can be affected drastically.
Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD
— Meta (@Meta) October 28, 2021
Facebook has assured that a total of $50 million will be allocated to a variety of organizations and educational establishments to help construct the metaverse prudently. After hearing about such promises from the company, people are hopeful that Facebook will successfully safeguard their privacy and will avoid repeating past mistakes regarding the same.
That’s all for today. Stay tuned with Stanford Arts Review for the latest updates.
