Zuckerberg says he expects the metaverse to reach a billion people within the next decade. The metaverse, he says, will be a place people will be able to interact, work and create products and content in what he hopes will be a new ecosystem that creates “millions” of jobs for creators.
The announcement comes amid an existential crisis for Facebook. It faces legislative and regulatory scrutiny in many parts of the world following revelations in the Facebook Papers.
In explaining the rebrand, Zuckerberg said the name “Facebook” just doesn’t encompass “everything we do” anymore. In addition to its primary social network, which now includes Instagram, Messenger, its Quest VR headset, its Horizon VR platform, and more.
“We’ve learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we’ve learned and help build the next chapter,” Zuckerberg said during an annual developers conference. “Our apps and their brands, they are not changing,” he added, according to AFP.