Facebook is planning to rebrand itself with a new name focused on the “Metaverse.”
Set aside that the name sounds like an MCU villain, the idea behind the metaverse is to create a space similar to the internet, where – according to CNN – users (via digital avatars) can walk around and interact with one another in real time.
Much like Second Life, users could engage in a virtual meeting with remote colleagues as their avatars, and then walk over to a virtual Starbucks to meet up with a friend who lives in another country. The goal is to combine virtual and augmented reality into a new online space.
Facebook CEO Mark Zuckerberg on stage at an Oculus developers conference in 2016. Copyright: Glenn Chapmann/AFP via Getty Images
As a colleague said when I mentioned this news, “A name that reinforces global domination doesn’t seem in their best interest at the moment.” The social media company has come under fire from regulators over its business practices. As Facebook wants to be known for more than social media, the company plans to announce the new name next week, the Verge reported.
It’s no surprise that Facebook wants to rebrand – and it makes sense that they are leaning into AR and VR. As 5G continues to gain critical mass, we will see a new Internet when our devices will be able to process larger files, including VR and AR, at much faster speeds. So, from a big picture standpoint, this kind of brand evolution is hardly a surprise.
The use of avatars and augmented reality will transform brand engagement. The impact on everything from healthcare and hospitality to engineering and gaming will be unimaginable.
Verizon Ventures is already looking to create new education and training applications that utilize 5G and mobile edge compute for immersive VR experiences in a partnership with Dreamscape. And, Snapchat just announced a new AR content studio to help brands develop platform agnostic experiences.
If you aren’t gearing up for this brave new world and how it will transform your customer’s journey and brand experiences, you need to get ready. In the meantime, contact me if you’d like to know how this will transform your brand. I’m happy to connect you with the experts at my agency.