Facebook Metaverse Decoded: What is metaverse and how it will work
Friday, October 29, 2021 | Chimniii Desk
Key Points
- On Thursday, Facebook CEO Mark Zuckerberg declared that his firm will be renamed as Meta Platforms Inc although Facebook app will not change its name.
- No one company" will develop the metaverse, Zuckerberg admits.
- Microsoft and Nvidia are also promoting the metaverse.
- Video gaming firms are also leading.
- Epic Games, the maker of the famous video game Fortnite, has raised $1 billion from investors to help construct the metaverse.
One of the most popular internet sites is rebranding to embrace the futuristic idea.
On Thursday, Facebook CEO Mark Zuckerberg declared that his firm will be renamed as Meta Platforms Inc although Facebook app will not change its name.
But Zuckerberg and his colleagues aren't the only tech visionaries seeing the metaverse's future. Some worry about a new world linked to a social media behemoth accused of failing to curb the spread of hazardous misinformation and other online evils that compound real-world problems.
What is Facebook Metaverse?
AdvertisementImagine the internet come alive, or at least rendered in 3D. Zuckerberg calls it a “virtual environment” you can enter rather than merely viewing on a screen. A world of infinite, interconnected virtual communities where individuals may meet, work, and play using VR headsets or AR glasses or smartphone apps.
It will also include online commerce and social media, according to emerging technology analyst Victoria Petrock.
“It's the next phase of connectedness where all of those things start to come together in a seamless, doppelganger universe,” she said.
What can I do in Facebook Metaverse?
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Attend a virtual concert, travel online, and buy and try on virtual apparel.
The metaverse may also help the work-from-home transition during the coronavirus epidemic. Employees could virtually see coworkers instead of on a video call grid.
Horizon Workrooms, Facebook's new business meeting software for Oculus VR headsets, has received mixed reviews thus far. The $300+ headsets put many of the metaverse's most cutting-edge experiences out of reach.
Those who can afford it can use their avatars to jump between different corporations' virtual worlds.
“Much of the metaverse experience will revolve around teleportation,” Zuckerberg says.
Tech businesses must yet figure out how to link their web platforms. So there aren't “people in the Facebook metaverse and other people in the Microsoft metaverse,” Petrock added, competing technological platforms will need to agree on standards.
Is Facebook going full Metaverse on?
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Zuckerberg is betting big on the next generation of the internet because he believes it will be vital to the digital economy. He expects people to regard Facebook as a metaverse corporation rather than a social media firm in the coming years.
Critics question if the proposed turn is a diversion from the company's crises, which include antitrust investigations, whistleblower evidence, and concerns about its management of misinformation.
After duplicating internal research materials and submitting them to the SEC, former Facebook employee Frances Haugen accused the company of harming children and instigating political violence.
Some media sources, such as The Associated Press, received them as well.
Or is it just another Facebook project?
AdvertisementNo. “No one company” will develop the metaverse, Zuckerberg admits.
Microsoft and Nvidia are also promoting the metaverse.
“We believe many firms will construct virtual worlds and settings in the metaverse, just as many companies have done on the Web,” said Richard Kerris, vice president of Nvidia's Omniverse platform. This allows you to travel to multiple worlds created by different companies, just like I do when I navigate from one web page to another.
Video gaming firms are also leading. Epic Games, the maker of the famous video game Fortnite, has raised $1 billion from investors to help construct the metaverse. It envisions the metaverse as a place where “people may come together within millions of 3D experiences to learn, work, play, create and socialise,” says game platform Roblox.
Consumer brands are also seeking to cash in. In June, Gucci and Roblox teamed to market a digital-only accessory collection. Coca-Cola and Clinique sold digital tokens to get into the metaverse.
Can I get more data on this way?
AdvertisementZuckerberg's acceptance of the metaverse runs counter to its most ardent supporters. A place where users may share their accounts, photographs, posts, and playlists without fear of being tracked and monetized by internet giants like Facebook.
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Facebook's business model, centred on selling tailored advertising based on personal data, appears to be moving into the metaverse.
“Ads will continue to be an essential element of our strategy throughout social media and presumably the metaverse as well,” Zuckerberg stated in a recent earnings call.
Petrock is concerned about Facebook leading the way into a virtual world that may require more personal data and allow for more abuse and misinformation than its existing platforms allow.
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