Facebook is planning to change its company name to reflect its focus on services other than social media – including Occulus AR glasses.
Facebook’s CEO Mark Zuckerberg intends to call these other services the “metaverse.”
In July, Zuckerberg stated that over the next several years, “we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”
Social media company Facebook owns social media networks Facebook and Instagram, messaging platform Whatsapp.
Facebook also owns Oculus, a manufacturer of Alternative Reality (AR) glasses. Facebook currently has more than 10,000 employees working on the technology.
Zuckerberg believes that AR glasses will soon be as ubiquitous as cellphones are now. If his predictions come true, Facebook could position itself to dominate the space.
Currently, over 56% of all web traffic comes through mobile phones. AR could change that.
Thus far, reception has not been ideal. Jack Dorsey, the CEO of Twitter, mocked the term “meta verse” in a tweet, effectively suggesting the idea was dystopian.
A twitter user tweeted that the word “metaverse” was coined by Neal Stephenson in the book “snow crash” and it originally described a virtual world owned by corporations where end users were treated as citizens in a dystopian corporate dictatorship. What if Neal was right.
Dorsey retweeted the message writing, “NARRATOR. He was.”
He was. https://t.co/U4XnXCmeeG
— jack⚡️ (@jack) October 20, 2021
In addition, Dorsey added another tweet writing, “Central Intelligence Corporation.”