HomeMetaverseIs Facebook Putting all its potential into the Metaverse?

Is Facebook Putting all its potential into the Metaverse?

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Investors and businesses eager to participate in the next big thing are showing a lot of interest in the concept of the metaverse.

In the next five years or so, according to Facebook CEO Mark Zuckerberg, the company will strive to move from being a social media company to a metaverse corporation.

The well-known children’s game Roblox describes itself as a metaverse firm and made its debut on the New York Stock Exchange in March.
The video game Fortnite from Epic Games is seen as existing in the metaverse.

During the epidemic, Meta had the same impulses as Roblox and began to think about the future of labor in the metaverse, just as Roblox had done. It was revealed earlier this year that it would release its first official metaverse product; it was a virtual reality tool that allowed you to attend live meetings with cartoon avatars of your pals.

Behold the internet brought to life in three-dimensional form, or at the very least depicted. Mark Zuckerberg, CEO of Facebook, describes it as a “virtual environment” that you can inhabit instead of merely seeing from a distance. Essentially, it’s a world of limitless, linked virtual communities where people may meet, work, and play utilizing virtual reality headsets, augmented reality glasses, smartphone applications, and other devices to interact with one another and their surroundings.

However, bear in mind that “it’s difficult to designate a name to something that hasn’t been produced,” an analyst with the research company Gartner who follows the development of immersive technology.

Meta Quest 2-Virtual Reality Headset
Image Source: Amazon

What will be able to do in the metaverse?

The metaverse is a virtual, online environment where people may interact. It is a virtual space. It is a reflection of actual life, yet it is not constrained by the constraints of the real world.

Amid the coronavirus epidemic, the metaverse may also prove to be a game-changer for those who want to work from home. Coworkers might be seen visually instead of on a video call grid, saving employees time.

Horizon Workrooms, a new meeting software for businesses that work in conjunction with Facebook’s Oculus VR headsets, has received mixed first reactions; the headsets are expensive, costing $300 or more, putting the most cutting-edge experiences in the metaverse out of reach for many people.

User avatars will travel between virtual worlds developed by various corporations, providing a convenient way for those who can pay it to do so.

Is Facebook investing all of its resources in Metaverse?

Indeed, Zuckerberg is betting heavily on what he considers to be the next generation of the internet because he believes it will play a significant role in developing the digital economy. He anticipates that people will begin to think of Facebook as a metaverse corporation rather than a social networking firm in the future years.

The Verge, Zuckerberg is considering using Facebook’s annual virtual reality conference to announce a corporate name change this coming week, which would place legacy apps like Facebook and Instagram under a parent company that is more focused on the metaverse than on the real world. Facebook hasn’t responded to the claim as of yet.

Critics question if the prospective pivot is an attempt to divert attention away from the company’s current issues, including antitrust investigations, testimony from former whistleblower workers, and worries about the company’s handling of disinformation.

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