Facebook’s major rebrand is officially underway with their eagerly awaited name change announced yesterday. From now on, the parent company will be named Meta, marking the broadening of their reach to encompass more than just social media and break into the whole metaverse.
Building The Metaverse
Facebook’s Mark Zuckerberg announced the name change as part of the company’s plans to break into the ‘metaverse’. The metaverse is a broader virtual universe where people can game, work, socialise and communicate. The company hopes the new parent branding will represent both the family of the much-loved apps, as well as their future development plans.
Are Changes Coming?
As yet, Facebook haven’t announced new products or developments beyond their existing VR (virtual reality) platform, Oculus. Rather, the new name represents what they are striving to become rather than what they represent at present.
More Than Just a Name Change
Some are suspicious of the timing of this announcement following multiple scandals regarding a multitude of issues from data protection and privacy to safeguarding young people. There are also concerning statistics that the Facebook app is loving popularity, and its growth is rapidly slowing, making this a wise time for the company to distinguish itself from the app and show they represent more than just a social media platform.
Facebook’s individual platforms like Facebook, Instagram, WhatsApp and Oculus remain unchanged. For the time being nothing has changed from this time last week when Meta was known as Facebook.
How will Meta, and the expansion of the metaverse itself affect future marketing? With connection and communication evolving, it will be interesting to watch this space seeing how these new spaces will allow us to socialise and collaborate. The metaverse has already become a popular channel for marketing experimentation with some brands bringing in replication of their real-world services into this new virtual environment. Will advertising in the metaverse become a necessity for all businesses, and how quickly will it become accessible to all?
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