The Meta Evolution of Facebook – Unboxing the Journey!
By: Creonow
Did you know that Facebook is the largest social media platform with over 2.85 billion active users across the globe? Starting as a ‘Facemash’ two decades earlier, Facebook witnessed another landmark change as now its Meta Platforms Inc. Intending to hire 10K professionals in the European Union over the next five years, Meta has a mega plan up in its sleeves! What is so remarkable about this name change, and how will it affect the future? Why has the terminology ‘metaverse’ become a buzzword that rules the minds of every global brand? This guide offers a comprehensive study of the meta evolution of Facebook and how it will transform the future!
Table of Content
- History of Facebook
- What is Metaverse?
- Next major Computing platform
- Meta: A Social Technology Company.
History of Facebook
Launched within the campus of Harvard University in February 2004, The Facebook was for people with Harvard email ids. Developed by Mark Zuckerberg, Eduardo Saverin, Dustin Moskovitz, and Chris Hughes, The Facebook started with eight-core features! Nothing less than a revolutionary milestone within the social arena; by 2006, anyone above 12 years could create an account.
The golden era started in 2006 as Facebook partnered with Microsoft to offer marketing and advertising to gain a wider audience. 2012 was another notable year as it acquired social media competitor Instagram for US$1 billion! Other acquisitions were instant messaging apps – WhatsApp and Oculus VR. It has owned over 78 companies up to now! On October 28, 2021, Mark Zuckerberg introduced Meta - which blends apps and technologies under one new company brand! Building a metaverse that refers to the future of the internet, Meta is determined to take the lead.
What is Metaverse? For the newbies, Metaverse has caught the eye of the tech industries imagination for sure! Global internet platforms are exploring the right strategies to embrace this futuristic concept. Blending the Greek word Meta and the Universe, the Metaverse highlights a virtual world that feels real!
Investors are paying close attention because they want to be a part of inventing the next great thing. With gaming companies already in the lead, tech giants across the globe are exploring avenues to implement it on a bigger platform. Predicted to succeed the internet, presence, interoperability & standardization are the three main aspects of the Metaverse. Invented in 1992 by Neal Stephenson, the term metaverse has a long history! Currently, Microsoft, Snap, and Roblox have invested in a joint effort to build something exciting & it will be interesting to see the future. The concept is called Technological Determinism, which reflects how technology shapes our social relations, culture, and more.
While zoom or Microsoft Teams can bind us in a room, the Metaverse is a broader term that will bring people together! Alternatively, Metaverse is a digital space represented by the digital avatars of places, people, and things. It will enhance various experiences like training, visiting a factory, meeting people, onboarding, and a lot more. Most global giants like Amazon, Disney, & Twitch will be thrilled to embrace the virtual world for their customers.
Next major Computing platform Scientists firmly believe that the internet will eventually advance into the Metaverse, the next computing platform. Today, the internet is opening doors for countless people to do business, access information, socialize, or communicate. Metaverse will scale up this value proposition – by eliminating the difference between online and offline!
Today, the XR (Extended Reality) is limited to the users like Gaming Brands, Enterprise Applications, and related industries. However, the introduction of Meta will open up new possibilities for creative expression, virtual worlds, and more. Many companies globally have already experimented or are in line to embrace metaverse technology in their offerings. Let us have a closer look:
- Clinique & Coca-Cola have sold digital tokens, termed the gateway to Metaverse.
- Gucci recently collaborated with Roblox to sell a digital-only accessories collection in June.
- The most prestigious design houses aim for virtual garments worn by avatars!
- American singer Ariana Grande performed virtually on Fortnite in September.
Today, social media platforms are all about messaging or watching each other live. Metaverse will create new online spaces that help people immerse themselves in multi-dimensional digital ways. So, the beauty will be to experience the digital engagement, rather than just watching it! Also, each sector will have its Metaverse ramp up the excitement to unlock wider opportunities.
Meta: A Social Technology Company So, coming back from where it all started, Facebook was renamed Meta by the Facebook CEO, Mark Zuckerberg! Matthew Ball, a noted venture capitalist, recently wrote, Metaverse shall be a full-grown economy in the coming days. A platform where individuals, and enterprises, can create, own, sell, and invest in products.
Meta acknowledged that Metaverse is not a standalone product & no single company can build it. The uniqueness of this virtually-connected digital world will be its openness and interoperability. To align with the upcoming evolution of social connection, changing the name to Meta highlights the progressive intentions of the company. Meta is ready to explore everything that can link with the virtual world, be it virtual reality, augmented reality, or smart glasses!
Meta calls this a collaborative project created by the global community, accessible to everyone! The company also reiterated its commitment to adhering to society and building it as per the norms. Meta has already started collaborating with industries, government, and academia to develop rigid interoperability across services. The company recently announced a $50 million investment to ensure high-quality products.
The Final Say One thing is for sure – Meta is bringing content creators, marketers, augmented and virtual reality developers, all under one roof! Yes, the concept is promising, and this is why leading tech giants are investing in it, but it has a long way to go. The meta evolution of Facebook is just a start that we all – individuals, entrepreneurs, and businesses are looking up!
