Facebook changes company name to Meta

Facebook founder Mark Zuckerberg announced yesterday that the social media platform’s company name will change to “Meta”, to emphasize its vision “metaverse” its . The leading social network will keep its name.

“From now on, we’ll be the first Metaverse, not Facebook,” Zuckerberg said during a keynote at the company’s annual Developer Conference. “I hope that people know about the Meta brand and the future we are looking forward to.”

Facebook name changed to Meta

Zuckerberg says the company’s future will focus on building products virtual reality connect the user through another device. He predicts that a billion people will use Metaverse in the next 10 years.

Zuckerberg describes the Metaverse as a three-dimensional virtual space where users can create avatars to represent them. The new virtual reality world will allow users to play Games, watch movies, attend concerts, collaborate with colleagues and gather with friends without leaving home. A virtual space will bring people together and the surrounding scenery will be like the real thing.

Zuckerberg calls Facebook, the company he founded from his college dorm room in 2004, “an iconic social media company,” but added that the name no longer “covers anything.” boss” everything the company does.

“Right now, our brand is so closely associated with a product that it doesn’t represent all of what we’re doing today, let alone in the future,” Zuckerberg said.

The company is also changing its stock ticker from “FB” to “MVRS”, effective December 1.

In August, Zuckerberg told CBS Mornings counterpart Gayle King that the Metaverse is “the next generation of the internet.”

He explains that “instead of being an internet that we look at, right on our mobile phones or on our computer screens, it is an internet of which we are a part or we can be.” inside.”

Zuckerberg said that while the metaverse is many years away from being fully implemented, in addition to technological advancements, it will also require “new forms of governance.”

The company is currently facing criticism for the lack of user protections on its Facebook app. Zuckerberg said “privacy” and “safety” controls need to be built into Metaverse from day one.

“You will have to decide when you want to be with other people, when you want to block someone from appearing in your space, or when you want to take a break and move to a private place to be alone.” Zuckerberg said.