Last Thursday CEO of Facebook Mark Zuckerburg announced a huge rebranding of the social media giant, Facebook. The new brand, named Meta, brings together all of Facebook’s apps and technologies under one new parent company. “Meta” signifies the company’s new commitment to developing the “metaverse”, a 3D immersive version of the internet.
The company is marketing the metaverse as a space where humans will be able to live, work, and play. The creation of the metaverse holds endless opportunities for virtual reality developers, content creators, marketers, and other tech related fields. Experiences in the metaverse could include social connection, entertainment, gaming, fitness, work, education, and commerce. Instead of looking at a screen full of faces on video conference applications such as Zoom, imagine being in a virtual room with your coworkers when working “from home”.
This virtual world is composed of endless interconnected virtual communities. Although Facebook has its sights set on controlling the metaverse market, other tech companies are focused on creating the metaverse as well. With so many different companies looking to create their own virtual worlds, Facebook says it hopes to develop a set of standards that would allow people to “teleport” between worlds similar to jumping between different web pages.
Although Facebook is celebrating the rebranding of their name some critics speculate this rebranding is to distract attention from recent controversies surrounding privacy issues. It is also of concern that this virtual ad space will only open more opportunities for Facebook, or Meta, to harness people’s data.
This blog post is part of the CIMA Law Group Blog. If you are in need of legal help, the CIMA Law Group is a law firm in Phoenix, Arizona which possesses expertise in Immigration Law, Criminal Defense, Personal Inquiry, and Government Relations.
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