The change of name to Meta sends the clearest signal yet of the Company's intentions for a new computing platform – the virtual universe, an idea born from the imaginations of sci-fi novelists. In Meta's vision, people will gather and communicate with each other by entering virtual environments, from talking to colleagues in a meeting room or hanging out with friends to faraway places in the world.
However, this will not affect how the company uses or shares data, and the business structure will not change. Facebook, Instagram and WhatsApp - platforms with billions of monthly users - will continue to operate under the old name. The company said its shares will begin trading under the new stock ticker MVRS from December 1.
"Right now, our brand is so tied to a product that it doesn't represent all of what we're doing, let alone the future," Zuckerberg said. "From now on, we will be known first as a metaverse, not just Facebook."
The use of virtual reality gadgets – like Meta’s Oculus engine – is still too small, and these gadgets are largely built into games and other niche applications.
According to Engadget, changes to the main Facebook platform are not yet clear, but virtual and augmented reality will be the vision and focus of Meta's development.
During the Facebook Connect event, Zuckerberg also introduced new projects like Horizon Workrooms - a platform that allows users to meet through virtual rooms with VR glasses. The company also revealed the initial user experience of the Horizon Home and Horizon Venues projects.
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