The social media giant facebook has changed its name to 'META' as they try to achieve the 'Metaverse' to create a new virtual world.
Facebook is one of the biggest social media in the world. It has been working since 2004 and has grown into a billion-dollar company. Although being immensely successful, it has faced severe criticism on its algorithmic decision and the policing of abuses on its platform. The tech giant which reports about 2.9 billion monthly users has lately faced scrutiny from global lawmakers and regulators.
Being so, facebook CEO who spoke on facebook connect yesterday announced that facebook is rebranded to the new name called 'META ”. He said facebook does not really encompass their goal and as a result of the same and focusing on their goal of 'Metaverse', the name has been changed to META. However, facebook will retain its name in the social media application, it's the firm's name that's been changed just like 'Google - Alphabet'.
Metaverse is nothing but a set of virtual spaces where you can create and explore with other people who aren't in the same physical space as you. The company also gave a number of updates on its VR and AR products. The Oculus VR launch, 'Horizon Home' to talk and play games, Oculus quest to use different 2D apps, etc.
