Facebook renamed into Meta!

This Thursday facebook announced its new name 'Meta'. The new moniker adapted by facebook now known as Meta is based on the sci-fi term called 'Metaverse' which means "a virtual-reality space in which users can interact with a computer-generated environment and other users."

Facebook renamed into Meta!
Facebook renamed into Meta!

Facebook has renamed itself 'meta' this Thursday. The announcement of renaming itself into 'meta' was announced at the Facebook connect augmented and virtual reality conference. The new name portrays the growing and modified vision of connecting people Virtually.

Meta CEO Mark Zuckerberg stated “Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started.”

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Along with that Meta also announced that it will be changing its stock ticker (symbol) from 'FB' to ' MVRS', effective from december 1st.

Whilist Meta is modifying its vision and putting hem into action, the CEO also declared that they will be offering jobs to the deserving ones very soon, “Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers,” Zuckerberg wrote in a letter on Thursday.

In the past couple of years, vis its product launch the company has made it clear that augmented and virtual reality will be a key part of its strategy in the coming years. Over the past few yars the company has made its launched promoting a line of Portal video calling devices like, the Ray-Ban Stories glasses and rolling out various versions of the Oculus virtual-reality headsets. 

The company stated this week that it'd spend about $10 billion over upcoming year for developing the technologies required for building the metaverse.

In the demonstration of the company's ambition for metaverse, they showcased a Pixar-like animation of software the company hopes to build someday. The demonstration includes people hanging out in space as cartoon-like versions of themselves, that represents their virtual selves.

Zuckerberg's stated that the vision that was discussed on Thursday is a long way run, with elements of the metaverse potentially becoming mainstream in 5 to 10 years.

'The company expects to invest many billions of dollars for years to come before metaverse reaches the scale,' said Zuckerburg.