Why Facebook wants to rebrand itself for the metaverse

Why Facebook wants to rebrand itself for the metaverse?

Why Facebook wants to rebrand itself for the metaverse

Living with the growing popularity of Metaverse and NFTs, Facebook decides to opt for rebranding. Rebranding is not just switching Company’s name or profile. It’s about changing a company’s vision and goals. Mark Zuckerberg is very ambitious and keen on changing the Facebook objectives following the Metaverse. 

Mark Zuckerberg announced his ambition that Facebook would undoubtedly raise the bar. He explains how this innovation will provide meaningful interaction with friends and family. Mark Zuckerberg hopes this rebranding will give a new dimension to the virtual world. 

Why are people more inclined toward the Metaverse?

The Metaverse technology enables an unlimited number of users to experience a real-time rendered 3D world. According to the Metaverse, a user can transfer himself into a virtual world. A creative platform, such as gaming, allows the user to interact and connect. Metaverse has jumped into the mainstream landscape and runs parallel to the real world. It is a centralized technology that gives a ride to a virtual world. 

Therefore, leading companies, such as Facebook, Microsoft, and Nike, have announced their collaboration with the Metaverse due to its growing popularity. We have already stepped into the digital space by owing digital assets in the form of cryptocurrency, doing online graduate programs, and incorporating virtual 360 for our business venture. Metaverse is not the first step; however, it will expedite the influx into the digital space.  

Facebook’s extensive focus on the Metaverse

According to the reports, Mark Zuckerberg organized his metaverse team last summer. Lately, the team has extended its vision and working as it tends to hire 10,000 more employees. Facebook has primarily fixed its eyes on the development of Metaverse throughout the globe. It is channelizing new pathways to gain superiority. 

Moreover, Facebook is planning to invest $50 million to execute its rebranding plan. Like many famous brands, Facebook wants to enter this virtual world to gain more interactive users. Moreover, it aims to provide the option of Metaverse for its users under the same platform. Hence, any Facebook user can significantly avail of this feature without switching to another platform. 

Mark Zuckerberg announces another parent company that will govern its daughter companies such as Whatsapp, Instagram, Facebook, etc. Furthermore, Facebook owns the Oculus VR gaming platform that gives an insight into the virtual world. That gateway will help it carve out new possibilities in the virtual space. Therefore, it does not want to lag in creating its Metaverse space. 

Facebook will be more than a social media platform

Facebook is regarded as a leading social networking platform connecting millions of users. However, it wants to add more tags along with that. It aims to enhance its sphere of influence by surpassing the tagline of a social media platform. Recently, Facebook has been going through tough times as people give negative reviews. 

Facebook’s latest whistleblower revelations have put it in the negative limelight. Many countries are analyzing and scrutinizing their work to avoid any inappropriate content. Hence, to shake off all these speculations, Facebook wants to rebrand itself. This new venture will spring up different ways for the company. Moreover, it will be able to regain users’ interest and faith. 

Conclusion

Facebook has announced its rebranding and planning to enter the Metaverse. Mark Zuckerberg has announced his plan to create a Metaverse that will offer virtual reality. Moreover, he explains that developing this meaningful interaction will require 10 to 15 years. In September, Facebook will announce its various programs, including XR programs. Further, it plans to initially invest $50 million for the project’s first phase. 

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