On 28 October, the founder and CEO of Facebook, Mark Zuckerberg, made a major announcement regarding the rebranding of the company. Although the famous social media platform will continue to be known as Facebook, the company name has been changed to Meta. From 1 December, the shares of the company will begin trading under the new ticker of MVRS.
Facebook to Meta
Besides the name, Facebook has also replaced its thumbs-up logo with a blue infinity sign at its headquarters. When explaining Meta, Zuckerberg said that the brand of the company was very tightly linked with the social network. This would make it difficult to use the brand to represent the things they are planning now or for the future. According to news sources, the rebranding is part of the company’s plans to create a metaverse, which will be a sort of virtual world.
Mark Zuckerberg conducted a live stream in which he explained the things that the metaverse would contain. He also streamed the demo video of this virtual world for the audience. The company is planning on coming out with a social platform for this metaverse, which will be known as Horizon. For this purpose, the company has developed VR for its Oculus headsets. The people will be able to use VR to make calls and use apps such as Instagram and Slack.
Another major feature that will be included in the metaverse is the virtual marketplace. In this virtual marketplace, the users would be able to buy, exchange and sell virtual goods, which will be in the form of NFTs. The company believes that Horizon would be the new favorite place for everyone to gather.