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Facebook to change its name in an adjustment to rebrand its social media services

Facebook plans to launch a new name as it rebrands its social media services reflecting the social media giant’s shift to building ‘the metaverse’, reports say.

The big internet technology company founder, Mark Zuckerberg, is said to be keen to signal the company’s intent to move beyond just social media and the controversies that have enmeshed the platform.

Earlier this year, Facebook’s chief said the brand would change from the social media industry to “being a metaverse company” over the next several years.

According to ITV, in citing The Verge, said that the announcement could be made during Facebook’s Connect conference on October 28. 2021

What is the meaning of ‘metaverse?’

What does metaverse mean? Metaverse means a virtual-reality space in which users can interact with other users in the same platform in a computer-generated environment. The metaverse is in essence the internet in 3D, an online world in which people can meet, play and work virtually, often using virtual reality headsets. According to the verse, “The Metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence.”

What is Facebook’s metaverse and how will it work?

The Verge wrote: Facebook, arguably the tech company with the biggest stake in the metaverse, describes it more simply: “The ‘metaverse’ is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

Speaking in July, Mr. Zuckerberg described the metaverse as a place of getting involved in the content reality rather than just viewing content.

An early example has used the idea of people using the metaverse to jump into and create the sense of video content or clip they are watching on their smartphone.

Facebook co-founder Mark Zuckerberg on his vision of the metaverse said, ‘’In the future…you’ll be able to sit as a hologram on my couch, or I’ll be able to sit as a hologram on your couch, and it’ll actually feel like we’re in the same place, even if we’re in different states or hundreds of miles apart’’

The plans come amid a global shift toward virtual communication, as socializing and work moved online for millions around the world during the coronavirus pandemic.

Facebook has already announced plans to hire 10,000 new staff in Europe to help it build the metaverse.

According to reports, the rebrand could see a new parent company created, with Facebook and its other services like WhatsApp, Instagram, and virtual reality firm Oculus sitting underneath it.

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Fb investments $150 million in Virtual Reality (VR) studying experiences

FB is working with talents to build a solid ecosystem for learning towards creating VR learning on the metaverse: Unity’s “Create with VR for Educators” software with Quest 2 gadgets

Fb is committed to expanding the supply of Virtual Reality (VR) learning materials as part of an effort to reshape the metaverse transaction and has raised $150 million in funding to achieve this goal. according to a report from GamePolar.

The social community said at the Join 2021 event that they are investing a lot of money to successfully achieve their VR learning goals over the next three years.

Facebook FB plans to do more than simply create immersive learning experiences, hoping to build a solid ecosystem for learning on the metaverse. Some of the money is used to educate augmented and digital reality creators to gain their own experiences.

 Fb works with Unity to show people the talent they need to create  VR learning materials. It primarily showcases nonprofits and educational institutions using Unity’s “Create with VR for Educators” software with Quest 2 gadgets. He also works with traditional black schools and universities, as well as non-profit organizations, as well as a variety of educational institutions to provide immersive experiences.

Will Facebook’s metaverse rebranding move offer relief over US lawmakers’ attempt to regulate its social media services?

The big question is: Will offering metaverse services – a planned way of the rebrand of Facebook offer relief over US lawmakers’ attempt to regulate its social media services?

It has been suggested the move to adjust its social media services could help separate work on the metaverse from the scrutiny Facebook continues to face over how its social media platforms currently operate, with campaigners and politicians in the UK, Europe and US all regularly placing the firm under the microscope.

Have Big internet technology social media companies been changing their names in the past?

Big internet technology social media companies have been changing their names in the past, so this would not be the first time a big-name technology brand has pivoted as its work changed

In 2015 Google created a new parent company called Alphabet as a way of highlighting it was no longer just a search engine but a broad range of different companies working on smartphones, driverless cars, and other technology.

Snapchat, in 2016,  also renamed itself Snap Inc. and expanded from being a just photo-sharing app to a camera production company, after unveiling its first hardware product – the camera-housing Spectacles glasses.

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