Facebook to rebrand as a metaverse company. What is that? - CBC.ca
Oct 24, 2021 1 min, 50 secs
is expected to rebrand as a metaverse company, the not-so-novel term has made its way into headlines around the world. .

The move comes as the California firm faces scrutiny from lawmakers over its platforms' negative effects on users, spread of misinformation, and monopolistic tendencies. .

But beyond Facebook's legal challenges, experts say the metaverse could be the next frontier of the social web where companies create new platforms to hook users.

While it's often used to describe digital worlds in which users can communicate, play and do business with others, the idea is much broader.

The metaverse as it's now described would be an evolution from that original idea combined with social networking as we know it today, she says. .

Virtual reality (VR) and augmented reality (AR) technology is expected to a driving force for the virtual worlds by creating immersive experiences for users, and could further blur the lines between real and digital life.

The company describes it as a "set of virtual spaces where you can create and explore with other people who aren't in the same physical space as you.".

an active participant in these virtual experiences because we realize that we're just going to have to spend a lot more time there and we're OK with that," said Annie Zhang, host of the podcast Hello Metaverse and a senior product designer at Roblox.

She says content creators could use virtual platforms to sell and release new music or videos, freeing some from the constraints of algorithms they say devalue their work. .

Though Facebook's push into the metaverse comes at the same time it's under fire, Coleman notes that the company has been laying the groundwork for years?

After years of what she calls "mediocre" virtual worlds built by various companies, Coleman says the success of the metaverse will ultimately depend on what company releases the "killer app" that users flock to.

Given Facebook Inc.'s success connecting people online — it boasts more than 2.85 billion monthly users on Facebook alone — it could be the company to do just that, she adds.

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