Image: CEO Mark Zuckerberg. Source: Facebook
There is so much buzz about the coming Facebook re-branding. CEO Mark Zuckerberg hinted at this several times recently when he discussed the metaverse. The problem is that no one knows what the metaverse is. So, let’s take a closer look at the metaverse, what is it, how it will change Facebook, how it will impact the marketplace and what workers, users and investors need to know.
Top brands need to continue to adjust in order to grow. Many companies that once were top brands are now forgotten. That’s why Facebook is said to be getting ready to launch its rebranding campaign.
This could be the right timing since the company has taken a pounding in recent years on the invasion of privacy and censorship fronts.
So, what is going to be the focus of Facebook's new brand message? The metaverse.
Facebook's move to metaverse brings AI, AR and VR sci-fi world to reality
I know the next question is: what the heck is a metaverse?
This Facebook rebranding goes far beyond just the name and how it impacts the customer and investor.
This Facebook rebranding toward the metaverse will further transform the company into this new space that has, until now, been left to the domain of sci-fi movies.
Just as Facebook stumbled into social media before there was a social media sector or even a label, it is about to do the same thing once again with the metaverse.
Regulators need to wake up. They have been trying to wrap their heads around what Facebook is and how to protect users for what the company has done and what it is still doing.
They are fighting yesterday’s battle, however, while tomorrow’s battle is coming on strong.
Metaverse uses AI, AR and VR to create artificial world
Think of the metaverse as an artificial world created by new technology like Augmented Reality and Virtual Reality. It’s a make-believe world that looks, feels, tastes and smells like the real world.
Think of the movie, The Matrix, and you will get some sense of what this is and what it will become over time.
In this case the metaverse and The Matrix are the same thing.
We have seen this kind of rebranding before, but this Facebook rebrand takes it to an entirely new level.
Facebook updating brand like cable TV and Google
Tired and older beat-up brands have been rebranding for a fresh new start for quite a long time.
Consider the cable television industry. Cable TV leaders Comcast and Charter took it on the chin for quite a long time with poor service and customer relations.
As competition raised its head in the industry, the cable TV giants needed to refresh the image, so they rebranded in order to take the consumers' eyes off the ball.
So, Comcast changed its brand to Xfinity, and Charter to Spectrum.
The same thing happened with Google. As privacy and blockage concerns grew, it changed its corporate structure and brand name to Alphabet. Google remains its branded search engine name, however, and that won’t change.
Rebranding of companies has worked because, over the last several years, a new and fresh brand gave the tired older companies a new take on life. It helped them separate yesterday from tomorrow.
The customers focus on what’s new and what’s coming rather than the old image, which was tired and sometimes abusive to the customers.
What is the metaverse?
Facebook will change its name to something new. In addition, it will move further into the artificial world of the metaverse.
What can we expect from the company going forward? What is the metaverse and how will it help Facebook reimagine itself?
First, expect a new name, a new image, a new icon, a new direction and more. The way Facebook has grown and expanded and changed over the last decade or two, we can expect more of the same for the next decade or two under whatever new brand it chooses.
Second, the changes will be more than name only. The company will move further into this new world of the metaverse. It wants to change everything and have an impact on everyone.
CEO Mark Zuckerberg has told the media recently that, in the coming years, the company will transition from a social media company to a metaverse company.
So, what is the metaverse?
Metaverse creates a new world with AR and VR like The Matrix
Besides being a catchy name, the metaverse is a new way of looking at the world through AR and VR. Like everything else, this change has been quietly in the works for years.
The best way to think of the metaverse is the virtual world created in the movie, The Matrix.
What the metaverse will actually mean to Facebook, users, investors and the marketplace is still unclear. It will grow and change over time.
We will just have to watch and see how this unfolds.
Facebook wants to disrupt the world we live in with its metaverse
When Zuckerberg and Facebook move into a new space like AR and VR and create an alternate reality-like metaverse, I think it is clear that they intend to disrupt the world we all know and understand.
This is not the Facebook of yesterday. This is the new Matrix world of tomorrow coming to life.
So, the metaverse which Facebook embraces is an alternate reality created by using AR and VR to play with the minds of the marketplace.
This future is both amazing and frightening, and we had all better stay alert, or we will become lost.
So, let’s keep our eyes open and on this next chapter in the evolution of how technology interacts with the human mind. Buckle your seat belts, as this ride is just beginning.
Jeff Kagan is an Equities News columnist. Kagan is a Wireless Analyst, Technology Analyst and Commentator who follows Telecom, Pay TV, Cloud, AI, IoT, TeleHealth, Healthcare, Automotive, Self-Driving cars and more. Email him at [email protected]. His web site is www.jeffKAGAN.com. Follow him on Twitter @jeffkagan and on LinkedIn at www.linkedin.com/in/jeff-kagan/.
Equities News Columnist: Jeff Kagan
Source: Equities News