Facebook changes its name to reflect its focus on the Metaverse

Facebook changes its name to reflect its focus on the Metaverse

This story about reinvention, boiled down, in 1:20 minutes.

What's the fuss?

Facebook is formally changing its name to reflect a new direction the company is taking. Surprisingly, it's right up gaming's alley.

The situation

You may know Facebook as the massively popular social media site, but it has drastically diversified its offering over the past few years - especially towards gaming.

  • Facebook Gaming, the company's video game streaming service for content creators, directly competes against Twitch and YouTube Gaming.
  • Facebook also owns Oculus, a company that specializes in Virtual Reality hardware (i.e. VR goggles) and software (i.e. VR experiences).

Facebook revealed that they will be officially be changing its name to Meta.

  • The name reflects a shift in business model as the company focuses its technologies on developing their own version of the Metaverse.
  • Their existing services (i.e. Instagram, WhatsApp) will become separate brands under the Meta umbrella.

Boiling it down

The "Metaverse" has been a buzzword gaining rapid popularity, touted as the future of the Internet.

  • The term can have multiple definitions, but the most common one is the amalgamation of different digital applications into one seamless experience (think Ready Player One).
  • Imagine if Facebook, Fortnite, and online shopping existed together in unison as completely congruent with no discernable boundaries.

The specifics of Facebook's vision for their own metaverse is currently unknown, by gaming will likely be a part of it.

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