In October 2021, various news outlets reported that Facebook intended to rebrand itself, with the change reportedly aimed at reorganizing the multinational company. The strategy paralleled Google’s 2015 creation of holding company Alphabet. Although the new official name had not yet been announced, reports suggested the rebranding would involve the word “Meta,” supported by the web address meta.com linking to a project connected to Mark Zuckerberg.
What Is the Metaverse?
The term metaverse was first coined in 1992 by Neal Stephenson in the novel Snow Crash. A metaverse would theoretically be a space that is simultaneously digital and physical, in which people and avatars perform actions and share them in real time. Unlike conventional social networks that allow users to share photos and videos on two-dimensional platforms, a metaverse would enable people to live together in a shared virtual environment.
Evidence of Virtual Reality Investment
Supporting the metaverse hypothesis is Facebook’s acquisition of Oculus, one of the world’s most advanced companies in virtual-reality headset technology. Such headsets would hypothetically be essential for creating a functional metaverse. The company has not confirmed these reports, which remain based on internet speculation and conjecture rather than official information.
Frequently asked questions
Who first used the term metaverse?
Neal Stephenson coined the word metaverse in 1992 in his novel Snow Crash.
Why did Facebook acquire Oculus?
Facebook acquired Oculus, one of the world’s most advanced virtual-reality headset companies, which would theoretically be essential technology for developing a metaverse platform.