![]() ![]() Startups like Decentraland have been operating within a limited metaverse for a long time, and now Facebook has entered the arena with its bold rebranding and a renewed spate of AR/VR investments. There’ve been efforts to build it – Epic Games plans to invest $1 billion to build its own version of the metaverse, and Microsoft has already launched a metaverse tech stack for developers. The metaverse, as per this definition, doesn’t exist. It is envisioned as a self-contained world that offers an immersive experience to anyone who enters it. A metaverse is a virtual space where users can come together (as in social media) via AR, VR, and cryptocurrency. Meta, for Facebook, directly refers to the metaverse that the company hopes to build over the next 10-15 years. Taking off from this meaning, Facebook is looking at a concept called the metaverse, which would literally translate into “beyond the known universe” or a kind of a new reality. It is commonly used in academia to refer to the self-referential nature of art or a body of work. The English word meta is derived from its Greek counterpart, which acts as a prefix meaning beyond, transcending, or more comprehensive. It is entirely a forward-looking idea and underpins Facebook’s ambitious pivot towards new technology areas – i.e., augmented reality and virtual reality. However, the new name that will act as the parent brand for all of the company’s current and future products is not related to its existing offerings. ![]() One of the key reasons Mark Zuckerberg cited for the change was that there are simply too many brands and products under the Facebook umbrella, and this causes a certain “awkwardness.” ![]() Of all the things Facebook could rebrand as, why has the company selected meta? Ostensibly, the word meta (Greek for beyond or transcending) has little to do with the social media giant’s primary areas of business. ![]()
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