The U.S. tech giant is planning to change its corporate name. As is fight against the accusation that social media sites harm the mental health of young users. Facebook has been fined over 70 million dollars for failing to provide information while investigating the takeover of Giphy (a search engine for animated images).
The CEO Mark Zuckerberg said as soon as the next week we will get the complete details about the Facebook rebranding. The original Facebook app will be a series of products under the new parent company’s name. In this article, we will look into the details that are available right now.
Facebook Inc. changes its name to Meta, decoupling its corporate identity from the eponymous social network mired in toxic content, and highlighting a shift to an emerging computing platform focused on virtual reality.
“The metaverse is the next frontier,” Chief Executive Officer Mark Zuckerberg said in a presentation at Facebook’s Connect conference, held virtually on Thursday. “From now on, we’re going to be metaverse-first, not Facebook-first.”
Facebook started its journey in 2004 when Mark Zuckerberg created the platform in a dorm of Harvard University. Since then it has grown to one of the most valuable companies around the globe by acquiring Instagram, Whatsapp, Oculus, and other technology start-ups.
The main aim of Facebook rebranding is to draw a dividing line between its social networking platforms and project in augmented reality and ‘Metaverse’.
What is Metaverse?
It’s a broad term, generally refers to sharing the virtual world environment. You can have access to this using the internet. The term is also famous in the gaming world. There is also a specific metaverse that uses blockchain technology, in this people can buy virtual land and other digital assets by using crypto. The company claims that through ‘Metaverse’ company will create a new online multi-dimensional space for our interactions.
Facebook isn’t the first brand to take this kind of step, few years back we have seen a rebranding of Google when it became a series of products under its new parent company name ‘Alphabet’.
Why this Facebook rebranding is important?
First of all, the core business of facebook became less important for the brand. People started appreciating WhatsApp, Instagram more than their main platform ‘facebook app’. There are different scrutiny going on which can spoil the reputation of other projects.
The company wants to separate two parts differently, social media and VR or AR, Metaverse.
What can we expect in Facebook rebranding?
Firstly, we may get a new parent company, also a new logo maybe. According to the Guardian, few changes that we can expect like Self-deleting content, going back to throwing sheep and poking people, etc.
We can expect the announcement at the company’s annual conference on 28th Oct.