Unsure what the Metaverse means for you? Find out how Mark Zuckerberg’s vision is shaping the future of online marketing.

On October 28, 2021, Facebook rebranded under the name Meta. This change has been announced for quite some time, and it finally happened in October.

But many people are still confused about what this all means.

Rest assured that the social media platform Facebook retained its name. It’s a move that was actually similar to Google’s rebranding into Alphabet back in 2015.

Simply put, the holding company, which owns various platforms such as Facebook, Messenger, Whatsapp, Instagram, and companies like Oculus, became Meta.

Some people touted this as a clever PR move. After all, it comes after a period of crisis stemming from internal document leaks that shined a light on the policies and practices of Facebook’s then leadership.

But that’s just scratching the surface of what the Meta rebranding really is in the grand scheme of things.

Mark Zuckerberg explained how his vision of the Metaverse came in part from recent events that made in-person meetings often impractical, if not impossible. He believes that the digital world can help people feel connected.

Meta is no longer a company focusing only on how people interact with technology.

Under the new moniker, Zuckerberg’s company will also concentrate on building the technology people need to interact with. The Metaverse is the founder’s dream of helping people share space and not just a screen.

While Zuckerberg’s vision sheds some light on the rebranding, there’s a lot more going on with the Metaverse that meets the eye.

What Is Meta and What Does the Facebook Name Change Mean for Us?

Explaining the rebranding and its effects is no easy task. However, one key element to understand is this:

The Metaverse is an entirely massive concept of which Meta is actually only a small part.

To help explain how this move will impact the digital landscape, we’ll start with what the new name stands for, the concept behind it, and the overarching significance.

Why Did Facebook Change Its Name to Meta?

It all started with a Founder Letter sent to the Facebook staff in October. This is what Mark Zuckerberg said:

“We’re now looking at and reporting on our business as two different segments: one for our family of apps and one for our work on future platforms.”

The Metaverse exists to encompass social experiences and the development of future technology. In Zuckerberg’s view, the company must adopt a new brand to go with the broader and ever-expanding vision.

He indicates the intention of being perceived on the market as a “Metaverse company.”

There’s also a symbolist component to the name. In Greek, Meta refers to the “after” or “beyond”, thus adequately hinting at the commitment and drive to pursue future-focused technologies.

But this shouldn’t come as a big surprise, given the fact that Facebook had been working for over a decade on the future of hardware. And the company always had a strong interest in the augmented and virtual reality fields.

Therefore, the name change wasn’t a move away from the old name shared by the parent company and the popular social media platform. Rather, it’s a way to position the parent company as a clearly multifaceted organisation.

What Is Meta(verse)?

The Metaverse concept tries to align two visions.

First, you have Silicon Valley’s big tech companies looking to build, commercialise, and monetise the future either through direct or indirect involvement.

Then, you have the Web 3.0 proponents that subscribe to the idea that blockchain technology and decentralisation will play centre stage in the Metaverse. And that it will act as the foundational blocks for the future.

The problem is that these visions are often hard to align, even though both are built around the idea of new technologies creating virtual worlds.

Of course, video games already show this as a possible future reality given the ability to enter and build entire worlds. And cryptocurrencies can provide value for assets in a virtual world.

If you look at the big picture, businesses and advertisers in the virtual space can enjoy endless possibilities. Surely companies like Meta will introduce even more avenues to fast-track businesses’ involvement while keeping the learning curve acceptable and within everyone’s reach.

For the time being, Meta seems to be focused on developing the “next generation of technology.” And the emphasis is placed on AR and VR tech.

The company indicated that it has over 10,000 employees working solely on consumer hardware development, such as AR glasses and various technologies that will liven virtual and augmented realities. In Zuckerberg’s vision, the Metaverse will exist in an AR or VR environment, hence the necessity to pursue these new niche technologies.

Does Facebook’s Name Change Impact Advertising?

Although most people focus on the actual name change, all the statements made one thing clear:

Rebranding under the Meta moniker is meant to shine a light on the company’s diversity. Its intent is to highlight the family of apps as well as the building of future platforms.

Now, in terms of the popular social media platform, Facebook and Facebook Messenger remain unchanged. The same goes for the entire family of apps.

That means any company that relied heavily on Facebook ad campaigns to connect with their audiences won’t notice any differences in how things work. Nor will they be directly impacted by the rebranding. The services are so far unchanged and should run as always.

However, the future-focused rebranding may have some benefits that are not apparent at first glance.

New developments will influence online marketing by either optimising various aspects or creating more tools and platforms that businesses can leverage.

Furthermore, the future-focused vision and the rebranding itself generated a lot of interest. And this could be a pivot point for the Facebook platform. Because with renewed interest and a potentially wider reach to various audiences, businesses and marketers may now have an easier time connecting with their ideal audiences on a Meta-powered channel.

Focusing on AR and VR development and integration can also spell fantastic news for hybrid events. It can also be a means to truly help people feel connected despite being separated by great distances.

Needless to say, now is an excellent time to unlock the full potential of online marketing and make it a core component of your business.

If you’re looking to get ahead of your competitors and learn the secrets of the future of marketing, don’t hesitate to schedule your free consult. Let’s see how we can help you accelerate and optimise your efforts.