Mark Zuckerberg desires Facebook to be seen as a ‘metaverse’ company

CALIFORNIA: Mark Zuckerberg, co-founder, and CEO of Facebook Inc has announced that the firm will now be called Meta Platforms Inc, or Meta for short, to emphasize its commitment to constructing the immersive digital environment known as the metaverse.
In a live-streamed virtual and augmented reality conference, Zuckerberg said the new name reflected the company’s work investing in the metaverse rather than its namesake social media site. “We’ve learned a lot from dealing with societal concerns and living in restricted platforms,” Zuckerberg said. “Now it’s time to utilise what we’ve learned and help construct the next chapter.”
“I am pleased to report that our company has changed its name to Meta as of today. Our mission hasn’t changed: it’s still about bringing people together, and our apps and brands haven’t changed either” he added.
Facebook, according to Zuckerberg, no longer incorporates everything the firm does. “We are now perceived as a social media firm,” remarked Zuckerberg. “However, we are a firm that produces technology to connect people,” says the CEO.
Facebook app, as well as Instagram, WhatsApp, and Messenger will not change their names. The company’s CEO and senior leadership, as well as its corporate structure, will remain unchanged. However, its stock will begin trading under a new ticker symbol, MVRS, on December 1.
The metaverse is a phrase coined by Neal Stephenson in his dystopian novel “Snow Crash” from 1992, in which individuals use virtual reality headsets to interact in a digital world that is similar to a game.
Metaverse, according to Zuckerberg, is a virtual environment that you can enter rather than merely look at on a screen. Virtual reality headsets, augmented reality glasses, smartphone apps, and other gadgets can be used to meet, work, and play.
It will also include other parts of online life, such as shopping and social media, according to Victoria Petrock, an analyst who analyses developing technology.
According to Zuckerberg, the metaverse will reach a billion people over the next decade, and the new technology will create millions of employment for artists.
The Chan Zuckerberg Initiative, the philanthropic organisation founded by Zuckerberg and his wife, Priscilla Chan, purchased Meta, a Canadian scientific literature analysis startup, in 2017.
The iconic thumbs-up sign that has been outside Facebook’s Menlo Park headquarters for years has been repainted with a blue pretzel-shaped emblem that resembles an infinity symbol.

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