Facebook announced on Thursday that it is changing the company’s name to Meta, one of the variants circulated in recent days.
According to CNBC, the name change was announced at the Facebook Connect augmented and virtual reality conference.
The name change in Meta reflects the company’s ambition to grow beyond social media and familiarize the public with the metaverse. The fantastic scientific term used by Facebook to describe its vision of what it means to work and play in a virtual world.
Metaverse is a term that first appeared in a dystopian novel three decades ago and refers broadly to the idea of a virtual environment, which can be accessed by people who use different devices.
“Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started,” Mark Zuckerberg said.
“We believe the metaverse will be the successor to the mobile internet,” Zuckerberg said.
In a message posted on Twitter, Meta stated: “The metaverse is the next evolution of social connection. It’s a collective project that will be created by people all over the world, and open to everyone. You’ll be able to socialize, learn, collaborate and play in ways that go beyond what’s possible today.”
The company expects to invest many billions of dollars for years to come before the metaverse reaches scale.