First modification:
Mark Zuckerberg, CEO of the tech giant, reported the name change as part of the company’s future intentions to create a “metaverse,” a virtual reality world where users can interact with each other. The modification occurs in the midst of a crisis in the image of the company, which is accused of putting its economic interests above those of society.
After the global fall of the services of his company that caused the loss of millions of dollars and generated concern in users regarding the confidentiality and protection of their personal data and amid a wave of criticism of Facebook after several revelations about the way in which he manages his interests, Zuckerberg reported on October 28 that Facebook Inc. will be renamed Meta Platforms.
The CEO of the multi-million dollar company made the announcement on the sidelines of an augmented virtual reality conference of the company itself. At the event, he commented that the new name is more faithful to the novel approach that his technology group will face from now on: the creation of a ‘metaverse’, a completely virtual world that would replace current social networks.
Zuckerberg said that the old brand (Facebook Inc) is “so closely tied to a product” that it cannot represent everything that is being developed today and “much less in the future.” The consortium, which unites highly crowded cyber spaces such as the eponymous social network, Instagram, WhatsApp and Messenger, will fold its different applications under the new brand and will not change its corporate structure.
The infinity symbol with the blue of Facebook: the Meta logo
Now, at the entrance to its headquarters in Melo Park, California, you can see the new sign that replaced the legendary thumb up of the ‘Like’ with a blue infinity symbol, the new logo of the company.
This announcement comes amid criticism from US legislators and regulators about its power in the market. Interestingly, after unveiling the news, there was a 3.7% growth in Wall Street trading on Thursday afternoon.
The company has come under public scrutiny in recent weeks. Last Monday, a media consortium revealed that until now Facebook had tolerated content that incited violence in countries with ongoing armed conflicts and had done so to protect its economic interests.
This recent scandal followed revelations by Frances Haugen, a former employee of the company, who leaked documents showing that the company prioritized financial gain over the safety of its consumers. Haugen even testified before the United States Senate on this issue. Since then, the company’s commitment to combat the abuses and attacks that occur on its platforms has been in question.
The metaverse is the next evolution of social connection. It’s a collective project that will be created by people all over the world, and open to everyone. You’ll be able to socialize, learn, collaborate and play in ways that go beyond what’s possible today. pic.twitter.com/655yFRm8yZ
– Meta (@Meta) October 28, 2021
The ‘metaverse’, a new world of virtual reality
According to Zuckerberg’s statements, the Facebook Inc hitherto did not print the novel search that the company executives have in mind. With the aim of creating a whole new world of virtual reality is that ‘Meta’ emerges, which refers to ‘Metaverse’, a new approach for which billions of dollars will be invested in the coming years.
The ‘Metaverse’ is a completely virtual universe where people, each with their own avatar, can interact, meet, work or even visit places without the need to travel, all in shared digital spaces. The creation of this world is intended to replace the 2,900 million users who browse the different social networks and is emerging as the substitute for the mobile Internet.
The first time someone used this term was in 1992, by Neal Stephenson, a writer of science fiction stories, in his novel ‘Snow Crash’, but then it was not a concept taken up by any industry until this October 28.
With Reuters and EFE
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