20 October 2021

On The Verge Revelation: New Horizons For Facebook In A Re-Branding Make-Over To Transition from Social Media to A Metaverse Conglomerate

Late on Tuesday - on the heels of settling a Civil Rights discrimination lawsuit lodged by the U.S. Department of Justice -

Facebook is planning to rebrand the company with a new name

By Alex Heath@alexeheath Oct 19, 2021, 10:14pm EDT

The Verge

Alex Heath: "Facebook is planning to change its company name next week to reflect its focus on building the metaverse, according to a source with direct knowledge of the matter.

The coming name change, which CEO Mark Zuckerberg plans to talk about at the company’s annual Connect conference on October 28th, but could unveil sooner, is meant to signal the tech giant’s ambition to be known for more than social media and all the ills that entail. The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more.

A spokesperson for Facebook declined to comment for this story.

Facebook already has more than 10,000 employees building consumer hardware like AR glasses that Zuckerberg believes will eventually be as ubiquitous as smartphones. In July, he told The Verge 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.”

A rebrand could also serve to further separate the futuristic work Zuckerberg is focused on from the intense scrutiny Facebook is currently under for the way its social platform operates today. A former employee turned whistleblower, Frances Haugen, recently leaked a trove of damning internal documents to The Wall Street Journal and testified about them before Congress.

> Antitrust regulators in the US and elsewhere are trying to break the company up, and public trust in how Facebook does business is falling.

. . .I’m told that the new Facebook company name is a closely-guarded secret within its walls and not known widely, even among its full senior leadership. A possible name could have something to do with Horizon, the name of the still-unreleased VR version of Facebook-meets-Roblox that the company has been developing for the past few years. The name of that app was recently tweaked to Horizon Worlds shortly after Facebook demoed a version for workplace collaboration called Horizon Workrooms.

. . .The metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet,” Zuckerberg told The Verge’s Casey Newton this summer. “And I think it’s going to be the next big chapter for our company too, really doubling down in this area.”

Complicating matters is that, while Facebook has been heavily promoting the idea of the metaverse in recent weeks, it’s still not a concept that’s widely understood.

The term was coined originally by sci-fi novelist Neal Stephenson to describe a virtual world people escape to from a dystopian, real world.

Now it’s being adopted by one of the world’s largest and most controversial companies — and it’ll have to explain why its own virtual world is worth diving into."

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What is the metaverse, and do I have to care?

One part definition, one part aspiration, one part hype

By Adi Robertson and Jay Peters Oct 4, 2021, 8:40am EDT

IIllustration by AlexCastro/The Verge

The Verge

"In recent months you may have heard about something called the metaverse. Maybe you’ve read that the metaverse is going to replace the internet. Maybe we’re all supposed to live there. Maybe Facebook (or Epic, or Roblox, or dozens of smaller companies) is trying to take it over. And maybe it’s got something to do with NFTs?

. . .Then what is the real metaverse?

There’s no universally accepted definition of a real “metaverse,” except maybe that it’s a fancier successor to the internet. Silicon Valley metaverse proponents sometimes reference a description from venture capitalist Matthew Ball, author of the extensive Metaverse Primer:

“The Metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence.”

Facebook, arguably the tech company with the biggest stake in the metaverse, describes it more simply:

“The ‘metaverse’ is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

There are also broader metaverse-related taxonomies like one from game designer Raph Koster, who draws a distinction between “online worlds,” “multiverses,” and “metaverses.” To Koster, online worlds are digital spaces — from rich 3D environments to text-based ones — focused on one main theme. Multiverses are “multiple different worlds connected in a network, which do not have a shared theme or ruleset,” including Ready Player One’s OASIS. And a metaverse is “a multiverse which interoperates more with the real world,” incorporating things like augmented reality overlays, VR dressing rooms for real stores, and even apps like Google Maps.

If you want something a little snarkier and more impressionistic, you can cite digital scholar Janet Murray — who has described the modern metaverse ideal as “a magical Zoom meeting that has all the playful release of Animal Crossing.”

. . .Look, I just read an article saying we were all going to live in the metaverse, and I want to know what that means.

Right now, tech industry figures who talk about “the metaverse” are usually excited about digital platforms that include some of the following things:

Feature sets that overlap with older web services or real-world activities
Real-time 3D computer graphics and personalized avatars
A variety of person-to-person social interactions that are less competitive and goal-oriented than stereotypical games
Support for users creating their own virtual items and environments
Links with outside economic systems so people can profit from virtual goods
Designs that seem well-suited to virtual and augmented reality headsets, even if they usually support other hardware as well

But in most current discourse, “the metaverse” arguably isn’t a fixed set of attributes. It’s an aspirational term for a future digital world that feels more tangibly connected to our real lives and bodies.

So is Fortnite a metaverse? Or Facebook Horizon? Or is the metaverse all of them put together?

People like Tim Sweeney (CEO of Fortnite publisher Epic) and Facebook CEO Mark Zuckerberg often say they’re just building one piece of a larger interconnected metaverse, similar to an individual social network on the present-day internet. “The metaverse isn’t a single product one company can build alone. Just like the internet, the metaverse exists whether Facebook is there or not,” one recent Facebook statement reads. . ."

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