Facebook Inc. announced it changed its name to Meta. What does this mean for brands? Changes how people communicate over the next decade.
Last week, Facebook Inc. (the parent company, not Facebook the website/app where your relatives post pictures of their dogs) announced it would be changing its name to Meta. This long-speculated move comes as the company announced a split into two segments: the “Family of Apps” (Facebook, Instagram, WhatsApp, etc.) and Reality Labs. Reality Labs is Facebook/Meta’s attempt to develop a metaverse from its suite of virtual and augmented reality properties.
What is the metaverse?
The next iteration of the internet will be shared virtual spaces, 3D or otherwise, that become their own world. Meta simply describes its version of the metaverse 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.” To that end, we already exist in a metaverse (for example, Teams calls) and ask any child about their experiences in Fortnite or Minecraft to know that the metaverse is already here. Meta’s bet is on how VR and AR will make us even more connected to these spaces.
What does this mean for brands?
For today, very little. Meta’s “Family of Apps” will continue to be fully supported and still represent most the company’s business. Going forward, however, this could have huge ramifications for how people around the world communicate digitally over the next decade. A fully realized metaverse is an entirely new way for brands to speak to their audiences, one that could put a greater priority on connection and communication between people.
If you’re interested in reading more about the metaverse, this WaPo article does a great job of summarizing what it is. The Goodfuse digital team will continue monitoring these trends and would love to hear about any of your experiences with metaverses and ways we can integrate some of these ideas into our day-to-day strategies.
Sam Henken is a Senior Account Executive, Digital at Goodfuse Communications.