Facebook Inc’s chief executive Mark Zuckerberg has reportedly announced that the company will be changing its name to ‘Meta’. This move is seen as an attempt to showcase company’s future, which is geared towards augmented and virtual reality features.
Meanwhile, the parent company will also get a new logo along with the name; a blue ‘M’, it has been reported that its products, which includes Facebook, Instagram and WhatsApp, will have no significant changes for the users.
During the 90-minute presentation, Zuckerberg argued that the name ‘Facebook’ was not reflecting the company’s work and products, citing the existing apps such as Instagram as well their virtual reality platform Oculus. He further claimed that metaverse will be the future of the internet and hoped that the company will be identified as a metaverse company rather than a social media company.
Zuckerberg also demonstrated how users will be able to add virtual objects to the real world with the use of the VR goggles and smart glasses, also suggesting that users will be able to hang out with their friends, shop, learn, and even appear in meetings, as holograms.
Adding to that, he promised that users will also be able play chess on a virtual chessboard that would be superimposed on the real world on the meta platform.
However, he noted that much of the technology is yet to be developed and supposedly the presentation had been focusing on what was reported as relatively modest promises for the future, with no information given about the company’s existing technology to develop the features, or the plans of releasing it.
It is speculated that the announcement is Facebook’s attempt to shift the focus from the ongoing controversies it has been embroiled in, including privacy violation of the users, and the deteriorating reputation of the company’s brand, especially with the recent leak of documents from a whistleblower, which revealed that the company was aware of the damage its products have on the mental health of its users.