A shocker to all, the social media platform that was loved by many for years has now changed its name to Meta. The reason for this change was so Facebook could rebrand and shift its focus to building the “metaverse.” A metaverse is where the digital and physical world comes together.
Facebook saw more opportunities lying ahead of them if they changed their focus and brand. They plan on finishing the rebranding by December 1st, 2021. With this new and improved Facebook, users will be able to live, work and play online. Although there aren't many details mentioned yet about what new features Meta will bring to users, one can hope Facebook won’t let down their billions of users that have relied on this social media platform for years. Mark Zuckerberg did mention how instead of just looking at a screen for office meetings or family meetings, one will be able to actually be in these experiences thanks to VR technology. This goes to show how much potential Meta will have. The rebrand to Meta is also in hopes that more Gen Z audiences will start to utilize this platform since many weren’t really using Facebook as much.
In terms of the stock market, Facebook stock will now be under the name “MVRS” instead of FB after December 1st.