In Q4 2021, you will hear the word “Metaverse ” many times . However, you may be confused about what it is and how it works. If so, I can help you. First, though, let’s take a small step back. After many rumors, the official news is finally out: Facebook Inc. changed its name to Meta . This new name also matches the new logo: the famous blue letter F has been replaced by a symbol resembling an infinity sign., also blue.
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As I explained, this rebranding is about the holding company Facebook Inc., not the app we use every day to keep in touch with friends, read news, and share photos and statuses; in fact, from now on, under the name “Meta” we will find Facebook, Instagram, WhatsApp, Oculus and other companies.
Now, I’m sure you are wondering why these changes took place. There is a lot of controversy on this topic. Some say this is a strategic move to “clean up” the reputation of the Facebook Inc. group, which has been hit hard by political scandals, data theft and other issues; from within the company, however, a very different explanation comes up: the transition from Facebook to Meta is necessary to bring the Metaverse project to life .
What it is
The Metaverse concept is not nearly as long as one might think, and is not an invention of Mark Zuckerberg. The expression Metaverse was first used in 1992, when the novel Snow Crash was published, in which author Neil Stevenson talks about a three-dimensional world inhabited by avatars of real people .
Meta took the Snow Crash concept and defined Metaverse as “a collection of virtual spaces that you can create and explore with other people outside of your physical space, ” in an interesting article that you can read here .
In this digital universe, you can connect with friends, work, play games, study, shop, and more, making the time you usually spend on the Internet more meaningful.
How it will be built
Now that you understand what the Metaverse is, you probably can’t wait to plunge headlong into this new digital adventure. I am sorry to tell you that this is not so fast or easy: the Metaverse project is huge and ambitious and cannot be built overnight.
Starting in 2022, the project framework will be developed. In any case, some of the products of this digital universe may be ready in 10 or even 15 years . Therefore, at the moment we cannot know exactly how the Metaverse will work, but what we are sure of is that it will be an immersive experience based on virtual reality . It is no coincidence that Facebook Reality Labs is in charge of the project .
It also suggests that the Oculus Quest’s visors may be the key to unlocking the doors of the Metaverse. In fact, Mark Zuckerberg unveiled, along with his company’s rebranding, Horizon Home, the new “home” of the Oculus virtual reality platform, allowing you to personalize this space where you can invite your friends’ avatars .
Metavers will not be able to “see the light” without Meta’s collaboration with other companies. In fact, there are already plans for a collaboration between the former Facebook Inc. and many other companies interested in this world of 3D and VR , especially those in the gaming and entertainment industry .
Many have wondered if – and how – Metaverse will affect the reality of NFT (an abbreviation for non-fungible tokens ), the digital collectibles that have been gaining popularity in recent months. The response came directly from Mark Zuckerberg’s company, which said Metaverse will support the NFT through partnerships with organizations such as financial companies and regulators.
In short, it will be possible to sell and buy Non-fungible token directly within this new 3D ecosystem, confirming that one of the goals of Metaverse is to create new business opportunities.