Facebook has officially changed its name to Meta

Facebook has now officially announced that it is changed company name to Meta.

The name change was announced earlier at the augmented and virtual reality conference Facebook Connect. The new name reflects the company’s growing ambitions outside of social media. Facebook is now known as Meta, adopted a new nickname, based on a sci-fi term metaverse, to describe his vision of working and playing in the virtual world.

“Today they see us as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier, just like social networks were when we started,” said the CEO. Mark Zuckerberg.

The company also said in announcing the new name that it would change its stock market to FB on MVRS from 1 December.

The company announced the formation of a team that will work on the metaverse. Two months later, the company announced that it would Andrew „Boz“ Boswort, who is currently head of the company’s hardware department, will be given the role of chief technology officer in 2022. In its results in the third quarter, the company announced it would turn Reality Labs, its hardware division, into its own reporting segment, starting in the fourth quarter.

“We hope that in the next decade the metaverse will reach a billion people, hundreds of billions of dollars of digital commerce and support jobs for millions of creators and developers,” he wrote. Zuckerberg.

Virtual reality – a new strategy

Over the past few years, the company has intensified its efforts in hardware, introducing a line Portal video call devices, launching Ray-Ban Stories glasses and launching different versions Oculus handset. The company indicated that it would augmented and virtual reality will be a key part of its strategy in the coming years. The company also said this week that it will spend about $ 10 billion over the next year on the development of technologies needed to build a metaverse.

Zuckerberg provided a demonstration of the company’s ambitions for the metaverse.

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The demo was a software-like animation Pixar-u which the company hopes to do one day. The demonstration included users socializing in space as their cartoon-like versions or fantastic characters, like robots, representing their virtual selves. Zuckerberg used part of that to accuse other technology firms of stifling innovation with high developer fees.

Also Zuckerberg said that much is far away, with elements of a metaverse that could potentially become mainstream in five to 10 years. The company expects that “invest many billions of dollars in the years to come before the metaverse reaches large proportions, “he added Zuckerberg.

“We believe that the metaverse will be the successor to the mobile internet,” he said Zuckerberg.

New products

Aside from, Meta has announced a new virtual reality headset called Project Cambria. The device will be a top product available at a higher price than headphones Quest 2 of $ 299, the company said. Project Cambria will be released next year, he said Zuckerberg.

Meta has also published the code name of its first smart glasses – Project Nazare. “We still have ways to move forward Nazare-man, but we are making good progress. ” He said Zuckerberg.

The rebranding comes amid a pile of newspaper reports in the last month after it Fransis Haugen, a former employee who became a whistleblower, released a host of the company’s internal documents to news outlets, lawmakers and regulators.

Reports show that the company is aware of the many damages caused by its applications and services. But also by not fixing the problems and fighting now to solve them. More information is expected in the coming weeks.

In conversation with analysts, Zuckerberg has vehemently denied the allegations and criticisms in the reports stemming from the documents she submitted Haugen-ova.

Source: CNBC

Source: PC Press by pcpress.rs.

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