Hey there👋, welcome to my blog. I don't know about you, but I am not a Facebook fanatic but I might soon become one because I love metaverse and this transition they have embarked on is a game-changer for a company that usually faces a lot of criticism.

Well, Metaverse is the main reason why this transition is happening

The name change, which was announced by Zuckerberg during the company's virtual reality and augmented reality conference Facebook Connect.

So What Is Metaverse?

The metaverse is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually.

Basically, the metaverse is where the physical and digital worlds come together, a techno-utopia where people are connected and live in a virtual universe.

The term was coined originally by sci-fi novelist Neal Stephenson to describe a virtual world people escape to from a dystopian, real world. Now it’s being adopted by one of the world’s largest and most controversial companies.

Is It The First Tech Company To Rebrand || Pivot?

Facebook isn’t the first well-known tech company to change its company name as its ambitions expand.

In 2015, Google reorganized entirely under a holding company called Alphabet, partly to signal that it was no longer just a search engine, but a sprawling conglomerate with companies making driverless cars and health tech.

And Snapchat rebranded to Snap Inc. in 2016, the same year it started calling itself a “camera company” and debuted its first pair of Spectacles camera glasses.

"By the end of this decade, or even by the middle of the decade, I would guess that we’re going to reach a point where our VR (virtual reality) devices will start to be clearly better for almost every use case than our laptops and computers are." Meta Founder Mark Zuckerberg

Founder Mark Zuckerberg said Thursday that Facebook will change its corporate name to Meta, effectively demoting Facebook's namesake service to being just one of the company's subsidiaries, alongside Instagram and WhatsApp, rather than the overarching brand.

The company is formerly known as Facebook also said in a press release that it plans to begin trading under the stock ticker "MVRS" on December 1.

Impact

A rebranding could be part of an effort to overhaul Facebook's reputation and turn the page following a series of PR nightmares, including misinformation on its platforms, content moderation failures and revelations about the negative effect its products have on some users' mental health.

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Ronnie Atuhaire 🤓