Mark Zuckerberg announced the new company name which was formerly known as “Facebook” as “Meta” on the 28th of October 2021. The entire world was thrilled to know the new change made by the most popular companies that own almost every trending social media platform. Keeping aside all the controversies and allegations the company received in the past few months, Facebook continued to have a futuristic vision and has taken a step forward to create the “Metaverse”
What is Metaverse?
The new buzzword “metaverse” is known to almost every social media user today. But exactly does this word mean and why is it getting so much popularity in recent times?
If we break the term Metaverse down, we get ‘meta’ – which means ‘beyond’ and ‘verse’ stands for ‘universe’ – this clarifies that Metaverse is a system that is beyond the universe. In simple terms, this technology lets people experience things that are not even present in the physical, realistic world.
“For people, the metaverse will offer more choice than we’ve ever seen before”
– Facebook now known as Meta
A few months ago when an employee of Facebook Frances Haugen released the documents of the company that showed all the details of how the organization invaded the privacy of its users and was concentrating on gaining more profits by fooling people, everyone using the apps or channels of the company were very flustered and Facebook lost a lot of credibilities.
While announcing the new approach Metaverse, Mark Zuckerberg stressed that the company has no authority to go through the private chats and activities of its users and the technology is strongly encrypted and secured.
He also added that Metaverse will allow people to do a lot of unimaginable things in the comfort of their homes. Users can connect to each other from any corner of the world – play games, watch movies, talk to each other, listen to music, and more with the feeling that they are together in spite of having a thousand miles of distance.
The company intends to launch several products to the Metaverse to give a highly advanced technological proposition to the world.
Scope of Metaverse
We live in the 21st century, the era of new generation ideas. At present we are surrounded by apps, websites, and channels of communication. Everything we need is just a click away. We sit on our sofa and pay our bills. Not just that, when we are sick instead of heading to the hospital we consult a doctor from our phones. Starting banking to ordering food online we are have become quite dependent on technology. The day is near when seeing robots on the roads will be a very common thing.
With the introduction of Metaverse, it is now clear that we are heading towards the world of Artificial Intelligence at a very fast rate.
Meta displayed a very outstanding perspective of the Metaverse – ideally the company is realizing some products to this digital universe by using which users can reduce the distance of their with their partners, friends, and family virtually. The products will be mostly AR and VR technologies integrated into games, communication apps, and streaming platforms.
As this initiation brings people together it has a great scope in the future.
Market Stats and industry growth of Facebook’s New Approach – Metaverse
With an investment of $50 million, Facebook has already started working towards making the Metaverse absolutely reliable and worthy.
The AR and VR products of Meta have got an investment of $10 billion for the initial development process. The products include VR headsets, AR glasses, etc.
A specially dedicated amount of $150 billion would be invested in making potential candidates learn about this new technology and work on the improvement of it.
Not just that many companies of multiple industries are already willing to collaborate their business in the metaverse.
Products Under Metaverse
- Cambria – the next-gen VR headset
- Oculus Quest – a high-end virtual reality headset
- AR glasses – glasses that bring the phone’s information to our faces
- Oculus Quest 2 integration to the popular game Grand theft Auto
- The amalgamation of Smart AR glasses in BMW Cars
How can people get benefited from Metaverse?
How about we tell you that all the people on this earth are going to have a common best friend? Well, it’s none other than computers.
Metaverse comes with a lot of benefits for the world.
Mark Zuckerberg mentioned that there would be 10000 new jobs in the European Union for the building of Metaverse. With the further additions of features for the technology, there will be more recruitments. As many companies and businesses will collaborate with it the need for manpower in those organizations might increase significantly. Although people who want to work towards the development of the technologies of Meta would need to have good ideas of Artificial intelligence.
Not a while ago, cryptocurrencies were in trend. People were going crazy to own these assets. Metaverse has a similar approach that will help people buy digital assets like virtual properties, products, etc.
Imagine your kid getting a classroom experience while sitting on the study table of your house. As of now, students are taking their online classes by sitting in front of their laptops, desktops, and mobile phones. But in the future, Facebook a.k.a Meta dreams of providing AR sets and glasses which will make students feel like they are sitting in the classroom on their bench and taking the lessons with their friends.
Travel and tourism
The travel industry has seen the worst depression in the last two years. Due to natural outbreaks, people were confined in their houses. Keeping that in mind the Meta Headsets aims to provide a real-time travel experience to the users. People can sit on their couches and go anywhere in this world without a ticket.
Work from home
How about we tell you that in the future your offices will be at your homes? Without having to travel for hours to and fro office users can sit at their desks, wear their AR systems, and work towards the growth of their company. Companies can customize their virtual offices, put up a great room with super ambiance for a low cost.
Learning any new skill in the future would be a matter of a few hours or a few minutes. People can meet tutors and guides online and have a great learning experience.
Social Media Platforms are definitely going to advance a lot. Instead of just chatting or having a normal video/call conversation, with the products of Metaverse people can have a conversation with their pals with a realistic experience. Users might feel they are actually sitting with their friends face to face and sipping their favorite coffee.
Shopping Made simple
There are many users today who prefer online shopping rather than going out to buy things. But online shopping doesn’t let users know the products properly. Meta understands this preference very well and has taken it to the next level. Users can wear AR vision glasses and have a live view of how the product looks and feels like.
Technology is advancing at a very fast rate, but are you ready for it? With the passage of time, more giants will come up with high-end technologies and take things to the next level. Some will take us to the moon, some will fulfill our demands within a few seconds, some will increase our life span, some will make us more powerful. But we also have to accept the fact that technology brings adverse effects along with it. So it is our responsibility to be at the most secure end along with enjoying the benefits provided by the new generation’s advancements.
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DISCLAIMER – This blog is not intended to negatively impact any individual or company. Neither is the blog written in any collaboration with Facebook. We have added the content on our website to provide the latest information and trends for our readers.