Zuckerberg

Zuckerberg on why Facebook is becoming a ‘metaverse’ company

With the end of June, Facebook CEO Mark Zuckerberg told his employees that the future of the company would go beyond a set of connected social apps. According to Zuckerberg, Facebook’s future goals would revolve around striving to build it into “a metaverse company”.

The metaverse will offer Facebook an opportunity to build a wide-reaching hub with reality and virtual reality platforms while still being mobile- and desktop-friendly. Zuckerberg’s definition of metaverse is broader than some others, however, comes down to building a web version that feels more like an MMO rather than a collection of webpages.

“I wanted to discuss this now so that you can see the future that we’re working towards and how our major initiatives across the company are going to map to that,” Zuckerberg said on the call. “What is the metaverse? It’s a virtual environment where you can be present with people in digital spaces. You can kind of think of this as an embodied internet that you’re inside of rather than just looking at.”

Detailing some of the company’s future goals, Zuckerberg further highlighted that the company’s focus will shift from just products for communities, commerce, and creators to virtual reality – bringing the metaverse to life. Zuckerberg said, “Our overarching goal across all of these initiatives is to help bring the metaverse to life.”

In January 2020, capitalist Mathew Ball identified the key characteristics of a metaverse, which included physical and virtual worlds, offering unprecedented “interoperability”. Some products and companies including Roblox, Fortnite andEpic Games incorporated metaverse-like elements earlier this month. Similarly, Facebook also plans on effectively transitioning from people seeing them as a social media company to being a metaverse company. It will be a convergence of physical, augmented, and virtual reality in a single online space. Zuckerberg further said that the metaverse will bring enormous opportunities to creators and artists.