Facebook changed its corporate name to Meta as part of a move to expand its presence beyond social media by creating a so-called metaverse.
CEO Mark Zuckerberg (pictured) explained in a letter Facebook, Messenger, WhatsApp and Instagram services will retain their names, but focus on creating the new initiative [1].
“From now on, we will be metaverse-first, not Facebook-first. That means that over time you won’t need a Facebook account to use our other services”, Zuckerberg explained.
Meta will allow people to share “immersive experiences”, with Zuckerberg citing holograms as an example.
He tipped greater use of AR and VR devices, while noting mobile phones and PCs would still have a role.
Meta hopes to bring 1 billion people into the metaverse in the next ten years.
[2]In a separate statement, Meta explained its corporate structure will not change but earnings reports would be split by social media services and reality laboratories beginning in the current quarter.
Nitesh Patel, director of wireless media strategies at Strategy Analytics, told Mobile World Live the move is “pragmatic and visionary”, as Zuckerberg will be able to focus on building “future value” through VR, AR and its existing services.
[1] https://www.mobileworldlive.com/featured-content/top-three/facebook-tipped-for-metaverse-makeover
[2] https://www.mobileworldlive.com/wp-content/uploads/2021/10/Meta_Sign.jpg
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