Facebook is now Meta. Could it be the biggest rebrand in the digital world so far? Let’s see.
In Facebook's annual conference, Connect 2021, Mark Zuckerberg introduced the new Facebook - the Metaverse, or what it is now popularly known as; The Meta. The virtual event explores what experiences could the newest update bring for existing and potential users.
Well, this major rebrand did not spin out of a newly discovered universe. It follows the company facing a series of major public-relations crises.
This 'immersive' and 'embodied' internet is meant to give users a complete indulging experience. It is termed as the successor to the 'mobile internet regime' that has been going on for quite some time now and also changing rapidly. However, this is not a sudden move to something bigger, and we are not talking in terms of planning. Before going on to explain what the all-new Meta is about, we will first go back in time and look at what is known as the 'Facebook Papers'.
The FaceBook Papers
A couple of days ago, Frances Haugen, the Facebook Whistle-blower, also a former employee of Facebook Inc. made an effort to ‘fix the company’ of the many bugs that it has. The multi-billion-dollar corporation has mounds and mounds of data under its roof, and thus it concerns everyone.
With roughly 2.89 billion active monthly users, it is the biggest social network worldwide. Not only this, but it has also devoured other major social media platforms such as Instagram and WhatsApp, thus allowing it to get an edge over its competitors.
The documents demonstrate its lack of social awareness, especially in developing countries. And no, it does not lack the awareness itself, it just doesn't pay any heed to spreading awareness among the users. This lack of awareness has led to an immense spread of hate speech and radical, virtual politics that could be very much linked to violence and conflict across the countries. And these conflicts are not limited to a few comments posted on the feed, these are real, physical conflicts.
It comes as quite contradictory news as it is a 'social network' meant to connect people and not drive them apart. Not only this but also recently all the platforms under the platform were subject to a major outage of about 6 hours in a major data breach, sharing the data of 1.5 billion users.
Thus, the papers were a huge revelation of how users, especially teenagers, fall prey to depression and other related issues.
Despite all of this, the metaverse has been introduced and is already being scrutinized quite heavily.
Here, we are about to delve into a very detailed analysis of what is meta and why is it meta?
Let’s start with the name itself.
META
Well, the term Meta is simply a prefix in the English language. And when put before another word, it translates into something beyond and something that operates at a higher level. It also means a huge change.
For Facebook, it brings together all the technologies and apps under one new company brand. Its major focus is said to be bringing people closer and helping businesses grow. The metaverse is aimed at projecting digital experiences into the physical world, through a somewhat three-dimensional process. Zuckerberg pronounced it to be 'the next evolution in a long line of social technologies, and it's ushering in a new chapter of the company'.
“We've gone from desktop to web to mobile; from text to photos to video. But this isn't the end of the line. The next platform will be even more immersive — an embodied internet where you're in the experience, not just looking at it. We call this the metaverse, and it will touch every product we build." _Mark Zuckerberg
The metaverse is defined by a feeling of presence' for its users.
The Logo
Facebook not only got a new name, but it also got a new logo. And it doesn't look like it is going to win any acceptance any time soon. Meta's logo is a simple, yet completely disfigured, infinity symbol, that is way too far from the previous Facebook logo of the name's all-caps wordmark.
The Meta, Instagram, and WhatsApp - and Basically Everything Facebook Holds
Rather than focusing on the new products like a normal keynote, Mark Zuckerberg said that the discussion will be about the future. (Speaking of keynotes and products, read about Apple's all-new iPhone 13 here.)
So, in a detailed metaverse introduction;
- 'Connecting with people' is said to be the most important experience of all. From what it looks like, if you see a picture of your home on your feed, all you have to do is put in your glasses and your headset - and you'll be home, virtually. With the Metaverse, you could have the feeling of the presence of being anywhere from everywhere.
- Avatars that represent the user, depicting everything from your body language to clothes
And whatnot? Well, what is going to stay the same are the names of applications that Facebook Inc. holds. So, you will be referring to WhatsApp, Instagram, and Facebook with the same old names.
'Beyond avatars, there is your home space. You are going to be able to design it to look the way you want, says the CEO. We have a question - what happens after we unplug? Do we get to keep those items? This idea of digital goods is quite unnerving and appears more to be like the virtual experiences created by Instagram and Facebook that have put many users under mental health issues. Also, experiencing places virtually is one thing, however, we are not sure about teleporting yourself to anywhere you want with almost any setting of your choice.
- Privacy concerns appear to be a big deal for Facebook's new parent universe. The user will have complete authority over who can enter the ‘metaverse’.
- Meta’s horizon home is about allowing its users to connect across various layers of reality in a virtual manner.
It does not end here. The Metaverse is also expected to include activities like Workout, Gaming, E-commerce, and Learning.
While working on building the metaverse, it is investing heavily on:
- Research about the impact of AR, VR, and smart devices on the lives of people who don't use them.
- Providing programming support to advanced creators.
- Enrolling new creators in programs like AR curriculum
- The XR Programs and Research Fund
- Creating new tools that make it easier for novice creators to develop specialized effects.
What Does Everyone in the Real World Think of This Virtual World?
As soon as the announcement was made public, the company faced major backlash. And not just about the name.
US Senator Ed Markey is of the opinion that “Facebook wants us to start calling it Meta, but we’re just going to keep calling it what it is, a threat to privacy, democracy, and children.” Moreover, Richard Blumenthal proposed that the name change is nothing but an effort to distract people from years of disregard for privacy and spreading hate.
Even the comedy world has been on Facebook, as Wendy's, a fast-food outlet, tweeted with 'changing name to Meat'.
How Does Meta Affect the Digital Economy?
The meta is all set to transform the digital economy. With applications that will allow users to engage in e-commerce activities, it would be possible to teleport across platforms that would be built in the metaverse.
Many renowned companies have taken up stakes in the metaverse. Microsoft, Nvidia, Epic Games, and even consumer brands like Gucci are also taking up the trend.
This is bound to have an immense impact on the digital economy, with consumers and producers meeting virtually and negotiating across platforms in emerging new ways.
The Bottom Line of Meta
In an ever-changing landscape of technology, the company is aiming at staying relevant. The virtual reality technology that has been introduced by the social media giant is an attempt at controlling a piece of its share. This is completely new territory and the company is experimenting with its reach at a new frontier.
Creating a virtual social experience is an entirely new experiment. However, this new digital universe has a long way to go. From developing holograms to chips powerful enough to deal with the usage it is anticipated to reach, we can only wait and watch.
