Mickey Mouse is poised to venture into the metaverse. 
 
Walt Disney CEO Bob Chapek said the entertainment conglomerate is preparing to make the technological leap into a virtual reality world first imagined by science fiction writers. 
 
It is a popular destination these days, ever since Facebook CEO Mark Zuckerberg announced the future of his company would be devoted to creating a robust, three-dimensional environment where users’ digital avatars would work, hang out and pursue their hobbies. 
 
Other big companies, including game-makers Roblox Corp and Epic Games, and software giant Microsoft Corp, are working on their own metaverses. Disney’s plan was notably devoid of specifics, beyond dropping a buzzword that has animated Silicon Valley. 
 
Chapek told investors Wednesday that entering this new digital frontier is consistent with Disney’s long history of technological innovation, dating back nearly a century to Steamboat Willie, the first cartoon to feature synchronized sound. 
 
“Our efforts to date are merely a prologue to a time when we`ll be able to connect the physical and digital worlds even more closely, allowing for storytelling, without boundaries in our own Disney Metaverse,” Chapek said during Disney’s fourth-quarter earnings call. 
 
In an interview with CNBC, Chapek said he envisions it as an extension of streaming video service Disney+ -- through the “three-dimensional canvass” he envisions for new types of storytelling. 
 
Disney’s former executive vice president of digital, Tilak Mandadi, wrote on LinkedIn in 2020 about creating a theme park metaverse, where “physical and digital world converge” through wearable devices, smartphones and digital access points. 
 
Not all of Disney’s digital forays have had happy endings. Its online children’s social network, Club Penguin, shuttered in 2017, after 11 years. Its entry into social gaming, via its $563.2 million purchase of Playdom in 2010, resulted in a write-down. Its efforts to capitalize on the galloping popularity of short-form YouTube videos through a $500 million acquisition of Maker Studios in 2014, resulted in the operation being absorbed into other parts of the company.

Mickey Mouse is poised to venture into the metaverse. Walt Disney CEO Bob Chapek said the entertainment conglomerate is preparing to make the technological leap into a virtual reality world first imagined by science fiction writers.

Mickey Mouse is poised to venture into the metaverse. Walt Disney CEO Bob Chapek said the entertainment conglomerate is preparing to make the technological leap into a virtual reality world first imagined by science fiction writers. It is a popular destination these days, ever since Facebook CEO Mark Zuckerberg announced the future of his company would be devoted to creating a robust, three-dimensional environment where users’ digital avatars would work, hang out and pursue their hobbies. Other big companies, including game-makers Roblox Corp and Epic Games, and software giant Microsoft Corp, are working on their own metaverses. Disney’s plan was notably devoid of specifics, beyond dropping a buzzword that has animated Silicon Valley. Chapek told investors Wednesday that entering this new digital frontier is consistent with Disney’s long history of technological innovation, dating back nearly a century to Steamboat Willie, the first cartoon to feature synchronized sound. “Our efforts to date are merely a prologue to a time when we`ll be able to connect the physical and digital worlds even more closely, allowing for storytelling, without boundaries in our own Disney Metaverse,” Chapek said during Disney’s fourth-quarter earnings call. In an interview with CNBC, Chapek said he envisions it as an extension of streaming video service Disney+ -- through the “three-dimensional canvass” he envisions for new types of storytelling. Disney’s former executive vice president of digital, Tilak Mandadi, wrote on LinkedIn in 2020 about creating a theme park metaverse, where “physical and digital world converge” through wearable devices, smartphones and digital access points. Not all of Disney’s digital forays have had happy endings. Its online children’s social network, Club Penguin, shuttered in 2017, after 11 years. Its entry into social gaming, via its $563.2 million purchase of Playdom in 2010, resulted in a write-down. Its efforts to capitalize on the galloping popularity of short-form YouTube videos through a $500 million acquisition of Maker Studios in 2014, resulted in the operation being absorbed into other parts of the company.

Disney wants to become the happiest place in the metaverse

One of Mark Zuckerberg’s first steps toward building the metaverse may be physical instead of virtual.

Meta, the social media company formerly known as Facebook, has discussed opening retail stores that will eventually span the world, said people with knowledge of the project and company documents viewed by The New York Times. The stores would be used to introduce people to devices made by the company’s Reality Labs division, such as virtual reality headsets and, eventually, augmented reality glasses, they said.

These devices are gateways to the metaverse, a futuristic digital world where people move from virtual to augmented versions of reality almost seamlessly. Zuckerberg, Facebook’s founder and CEO, last week renamed his company Meta and laid out a vision for pursuing the metaverse as the next social platform. The stores would help show people that virtual reality and augmented reality can be fun and exciting, exactly the way Zuckerberg sees it.

The aim of the stores is to make the world “more open and connected,” according to the company documents viewed by The Times. They are also intended to spark emotions like “curiosity, closeness,” as well as a sense of feeling “welcomed” while experimenting with headsets in a “judgment free journey,” according to the documents.

Discussions about physical stores predated Facebook’s rebranding by many months, with serious work on the initiative having started last year, the people said. And the project, which is still in development, may not proceed, they said. But if Meta moves forward with stores, it would be a first for a tech giant that has existed largely digitally, with more than 3.5 billion people using its apps such as Facebook, Instagram, WhatsApp and Messenger.

A Meta spokeswoman declined to comment.

Zuckerberg has talked up the metaverse as his company grapples with regulatory and societal challenges. Frances Haugen, a former employee turned whistleblower, amassed thousands of pages of internal documents and recently shared them with lawmakers and the news media. She has said that Facebook was not doing enough to protect society from the harms it causes. Her disclosures have drawn scrutiny from legislators and regulators, though it is unclear how strong her case is.

Skepticism about the metaverse also abounds. While Meta’s Reality Labs division has had modest past success with the Oculus Quest 2, a low-priced headset that was popular last year, virtual reality remains a niche market for hobbyists and enthusiasts. The hardware is often costly and can be difficult to use. Some people have reported that the headsets nauseate them.

“We are, at best guess, at least five to 10 years out from a fully fleshed out Meta product or service,” said Tim Derdenger, a professor at Carnegie Mellon University’s Tepper School of Business. He said what Meta was working on was akin to the computer game Second Life from the early 2000s, calling it “a second shot at a Second Life-like service, but that is hopefully more immersive.”

Still, Zuckerberg has said he sees the moment to build what he believes will be the next major shift in computing platforms since the smartphone era. In that future, Zuckerberg’s apps would no longer be beholden to the rules dictated by Apple and Google, which own the app stores that distribute Facebook, Instagram, WhatsApp and Messenger.

Technology companies have gone the brick-and-mortar path before. Gateway, a personal-computer maker, had its own stores in the 1990s. Apple has retail stores so people can test out devices and get their questions answered. Microsoft, Amazon and others have followed with their own stores as well.

In recent years, Meta had experimented with some physical retail efforts. It opened “pop-up” kiosks at airports and a pop-up store in Manhattan’s SoHo district to show its Oculus hardware products. It also had a pop-up location with Macy’s in 2018, with the aim of bringing more small business onto the platform.

Should Meta’s new stores proceed, they would feature products such as Portal devices — teleconferencing gadgets that let people video chat over Facebook — as well as the Oculus headsets, the company documents said. The stores could also include voice-activated sunglasses that Meta developed with Ray-Ban, which people can use to take photos and video.

Early designs for Meta’s stores appeared modern, with a flat, minimalist aesthetic to the building exteriors and subtle placement of the Facebook brand, according to the documents. The company considered naming its stores Facebook Hub, Facebook Commons, Facebook Innovations, Facebook Reality Store and From Facebook, before eventually settling on the Facebook Store as a leading candidate, the documents said.

It was unclear how the Meta rebranding would affect the naming of the stores. Andrew Bosworth, a longtime Facebook executive who will become Meta’s chief technology officer, said last week that the Oculus brand would be discontinued and replaced by the Meta name. The Oculus Quest will become the Meta Quest, while the Facebook Portal will be rebranded the Meta Portal, he said.

The flagship Facebook Store had been planned for Burlingame, California, where Meta has an office for its Reality Labs employees. It was also unclear whether those plans would continue.

One of Mark Zuckerberg’s first steps toward building the metaverse may be physical instead of virtual. Meta, the social media company formerly known as Facebook, has discussed opening retail stores that will eventually span the world, said people with knowledge of the project and company documents viewed by The New York Times.

One of Mark Zuckerberg’s first steps toward building the metaverse may be physical instead of virtual. Meta, the social media company formerly known as Facebook, has discussed opening retail stores that will eventually span the world, said people with knowledge of the project and company documents viewed by The New York Times. The stores would be used to introduce people to devices made by the company’s Reality Labs division, such as virtual reality headsets and, eventually, augmented reality glasses, they said. These devices are gateways to the metaverse, a futuristic digital world where people move from virtual to augmented versions of reality almost seamlessly. Zuckerberg, Facebook’s founder and CEO, last week renamed his company Meta and laid out a vision for pursuing the metaverse as the next social platform. The stores would help show people that virtual reality and augmented reality can be fun and exciting, exactly the way Zuckerberg sees it. The aim of the stores is to make the world “more open and connected,” according to the company documents viewed by The Times. They are also intended to spark emotions like “curiosity, closeness,” as well as a sense of feeling “welcomed” while experimenting with headsets in a “judgment free journey,” according to the documents. Discussions about physical stores predated Facebook’s rebranding by many months, with serious work on the initiative having started last year, the people said. And the project, which is still in development, may not proceed, they said. But if Meta moves forward with stores, it would be a first for a tech giant that has existed largely digitally, with more than 3.5 billion people using its apps such as Facebook, Instagram, WhatsApp and Messenger. A Meta spokeswoman declined to comment. Zuckerberg has talked up the metaverse as his company grapples with regulatory and societal challenges. Frances Haugen, a former employee turned whistleblower, amassed thousands of pages of internal documents and recently shared them with lawmakers and the news media. She has said that Facebook was not doing enough to protect society from the harms it causes. Her disclosures have drawn scrutiny from legislators and regulators, though it is unclear how strong her case is. Skepticism about the metaverse also abounds. While Meta’s Reality Labs division has had modest past success with the Oculus Quest 2, a low-priced headset that was popular last year, virtual reality remains a niche market for hobbyists and enthusiasts. The hardware is often costly and can be difficult to use. Some people have reported that the headsets nauseate them. “We are, at best guess, at least five to 10 years out from a fully fleshed out Meta product or service,” said Tim Derdenger, a professor at Carnegie Mellon University’s Tepper School of Business. He said what Meta was working on was akin to the computer game Second Life from the early 2000s, calling it “a second shot at a Second Life-like service, but that is hopefully more immersive.” Still, Zuckerberg has said he sees the moment to build what he believes will be the next major shift in computing platforms since the smartphone era. In that future, Zuckerberg’s apps would no longer be beholden to the rules dictated by Apple and Google, which own the app stores that distribute Facebook, Instagram, WhatsApp and Messenger. Technology companies have gone the brick-and-mortar path before. Gateway, a personal-computer maker, had its own stores in the 1990s. Apple has retail stores so people can test out devices and get their questions answered. Microsoft, Amazon and others have followed with their own stores as well. In recent years, Meta had experimented with some physical retail efforts. It opened “pop-up” kiosks at airports and a pop-up store in Manhattan’s SoHo district to show its Oculus hardware products. It also had a pop-up location with Macy’s in 2018, with the aim of bringing more small business onto the platform. Should Meta’s new stores proceed, they would feature products such as Portal devices — teleconferencing gadgets that let people video chat over Facebook — as well as the Oculus headsets, the company documents said. The stores could also include voice-activated sunglasses that Meta developed with Ray-Ban, which people can use to take photos and video. Early designs for Meta’s stores appeared modern, with a flat, minimalist aesthetic to the building exteriors and subtle placement of the Facebook brand, according to the documents. The company considered naming its stores Facebook Hub, Facebook Commons, Facebook Innovations, Facebook Reality Store and From Facebook, before eventually settling on the Facebook Store as a leading candidate, the documents said. It was unclear how the Meta rebranding would affect the naming of the stores. Andrew Bosworth, a longtime Facebook executive who will become Meta’s chief technology officer, said last week that the Oculus brand would be discontinued and replaced by the Meta name. The Oculus Quest will become the Meta Quest, while the Facebook Portal will be rebranded the Meta Portal, he said. The flagship Facebook Store had been planned for Burlingame, California, where Meta has an office for its Reality Labs employees. It was also unclear whether those plans would continue.

To build the metaverse, Meta first wants to build stores

Microsoft President Brad Smith has downplayed the metaverse 'hype' and said that it still requires a lot of work.

According to Smith, ''We're all talking about the metaverse as if we're entering some new dimension. This is not like dying and going to heaven. We're all going to be living in the real world with people.''

"I think (the metaverse) will be very big. Everyone is going to be entering this. We have to ensure that it protects privacy, digital safety and protects against disinformation, manipulation. We have a lot to clean up."

Also read |&nbsp;<a href="https://www.wionews.com/technology/microsoft-ceo-satya-nadella-launches-3d-avatars-enters-metaverse-race-426360" hreflang="en">Microsoft CEO Satya Nadella launches 3D avatars, enters metaverse race</a>

His statement comes a day after Microsoft CEO Satya Nadella unveiled three-dimensional versions in the company's teams app and stepped into the world of metaverse.

Smith highlighted that metaverse needs Big Tech actors like Facebook, Microsoft, Google and Apple would likely each develop their own versions of metaverse.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/tech-it-out-what-is-the-metaverse-424223/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

As Covid lockdown measures and work-from-home policies pushed more people online for both business and pleasure, the concept has surged in popularity during the pandemic.

During an interview he sidelines of Lisbon's Web Summit, he also said that ''Tech is going to have to lean in...with real concrete ideas...even make concessions, so that we can all compromise and build a common platform that better protects people than ... the internet as a whole has in recent past.''

<a href="https://www.wionews.com/technology/what-is-metaverse-the-new-buzzword-in-internet-technology-412364">Also read |&nbsp;What is metaverse, the new buzzword in internet technology?</a>

"Government (will) see through that, and it's not going to bode well for the sector...We sort of need to get real."

Mark Zuckerberg renamed&nbsp;Facebook Inc. to&nbsp; Meta Platforms Inc. or Meta for short.&nbsp;

Facebook as 'Meta' in a strategic rebranding move that experts believed was a distraction from its privacy violations.

In a stinging rebuke,&nbsp;whistleblower Frances Haugen had accused&nbsp;the company of yet again prioritising expansion over people's safety.

(With inputs from agencies)

Microsoft President Brad Smith has downplayed the metaverse 'hype' and said that it still requires a lot of work. According to Smith, ''We're all talking about the metaverse as if we're entering some new dimension.

Microsoft President Brad Smith has downplayed the metaverse 'hype' and said that it still requires a lot of work. According to Smith, ''We're all talking about the metaverse as if we're entering some new dimension. This is not like dying and going to heaven. We're all going to be living in the real world with people.'' "I think (the metaverse) will be very big. Everyone is going to be entering this. We have to ensure that it protects privacy, digital safety and protects against disinformation, manipulation. We have a lot to clean up." Also read | Microsoft CEO Satya Nadella launches 3D avatars, enters metaverse race His statement comes a day after Microsoft CEO Satya Nadella unveiled three-dimensional versions in the company's teams app and stepped into the world of metaverse. Smith highlighted that metaverse needs Big Tech actors like Facebook, Microsoft, Google and Apple would likely each develop their own versions of metaverse. As Covid lockdown measures and work-from-home policies pushed more people online for both business and pleasure, the concept has surged in popularity during the pandemic. During an interview he sidelines of Lisbon's Web Summit, he also said that ''Tech is going to have to lean in...with real concrete ideas...even make concessions, so that we can all compromise and build a common platform that better protects people than ... the internet as a whole has in recent past.'' Also read | What is metaverse, the new buzzword in internet technology? "Government (will) see through that, and it's not going to bode well for the sector...We sort of need to get real." Mark Zuckerberg renamed Facebook Inc. to Meta Platforms Inc. or Meta for short. Facebook as 'Meta' in a strategic rebranding move that experts believed was a distraction from its privacy violations. In a stinging rebuke, whistleblower Frances Haugen had accused the company of yet again prioritising expansion over people's safety. (With inputs from agencies)

'Requires lot of work': Microsoft President Brad Smith downplays metaverse 'hype'

Microsoft CEO Satya Nadella has launched three-dimensional avatars and immersive meetings in a bid to enter the metaverse race.

The company is going to roll out a collaborative platform for virtual experiences that will combine HoloLens meetings with mixed reality.

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The metaverse is here, and it’s not only transforming how we see the world but how we participate in it – from the factory floor to the meeting room. Take a look. <a href="https://t.co/h5tsdYMXRD">pic.twitter.com/h5tsdYMXRD</a>
— Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1455624165201887234?ref_src=twsrc%5Etfw">November 2, 2021</a></blockquote>
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The metaverse broadly refers to the idea of a shared virtual platform that people can access through different devices and where they can move through digital environments.

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According to Nadella, ''As the digital and physical worlds come together, we are creating an entirely new platform layer, which is the metaverse.''

''In a sense the metaverse enables us to embed computing into the real world and embed the real world into computing, bringing real presence to any digital space,'' he added.

Microsoft will update its Teams app to push towards metaverse environment that will ''transform how we see the world but how we participate in it.''

<a href="https://www.wionews.com/technology/what-is-metaverse-the-new-buzzword-in-internet-technology-412364">Also read |&nbsp;What is metaverse, the new buzzword in internet technology?</a>

It comes after Mark Zuckerberg changed Facebook's name to Meta Platforms Inc to reflect its focus on building the ''metaverse.''

As Covid lockdown measures and work-from-home policies pushed more people online for both business and pleasure, the concept has surged in popularity during the pandemic.

Microsoft, which owns Xbox and the world-building game Minecraft, is also a key player in the gaming world.&nbsp;

<a href="https://www.wionews.com/trending/facebook-is-now-meta-but-another-company-pocketted-money-from-all-the-buzz-425058">Also read |&nbsp;Facebook is now Meta, but another company pocketted money from all the buzz</a>

Recently, metaverse has become one of the tech sector's hottest buzzwords, with companies pouring millions of dollars into its development.

Xbox boss Phil Spencer has talked about planning for "a metaverse or mixed-reality construct."

Fortnite's owners Epic Games said in April that $1 billion of funding raised recently would be used to support its "vision for the metaverse".

(With inputs from agencies)

Microsoft CEO Satya Nadella has launched three-dimensional avatars and immersive meetings in a bid to enter the metaverse race. The company is going to roll out a collaborative platform for virtual experiences that will combine HoloLens meetings with mixed reality.

Microsoft CEO Satya Nadella has launched three-dimensional avatars and immersive meetings in a bid to enter the metaverse race. The company is going to roll out a collaborative platform for virtual experiences that will combine HoloLens meetings with mixed reality. The metaverse is here, and it’s not only transforming how we see the world but how we participate in it – from the factory floor to the meeting room. Take a look. pic.twitter.com/h5tsdYMXRD — Satya Nadella (@satyanadella) November 2, 2021 × The metaverse broadly refers to the idea of a shared virtual platform that people can access through different devices and where they can move through digital environments. According to Nadella, ''As the digital and physical worlds come together, we are creating an entirely new platform layer, which is the metaverse.'' ''In a sense the metaverse enables us to embed computing into the real world and embed the real world into computing, bringing real presence to any digital space,'' he added. Microsoft will update its Teams app to push towards metaverse environment that will ''transform how we see the world but how we participate in it.'' Also read | What is metaverse, the new buzzword in internet technology? It comes after Mark Zuckerberg changed Facebook's name to Meta Platforms Inc to reflect its focus on building the ''metaverse.'' As Covid lockdown measures and work-from-home policies pushed more people online for both business and pleasure, the concept has surged in popularity during the pandemic. Microsoft, which owns Xbox and the world-building game Minecraft, is also a key player in the gaming world. Also read | Facebook is now Meta, but another company pocketted money from all the buzz Recently, metaverse has become one of the tech sector's hottest buzzwords, with companies pouring millions of dollars into its development. Xbox boss Phil Spencer has talked about planning for "a metaverse or mixed-reality construct." Fortnite's owners Epic Games said in April that $1 billion of funding raised recently would be used to support its "vision for the metaverse". (With inputs from agencies)

Microsoft CEO Satya Nadella launches 3D avatars, enters metaverse race

Mark Zuckerberg&nbsp;announced that Facebook's name will now change to Meta to represent the company's vision of&nbsp;metaverse as the "next chapter" on the internet&nbsp;during a live stream event on Thursday.

"To reflect who we are and what we hope to build I am proud to announce, starting today our company is now Meta," Zuckerberg said. "Our mission remains the same, it is still about bringing people together," he added while asserting that "we are still the company that&nbsp;designs technology around people."

"Now we have a new north star&nbsp;to help bring the metaverse to life," Zuckerberg said.

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Announcing <a href="https://twitter.com/meta?ref_src=twsrc%5Etfw">@Meta</a> — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. <a href="https://t.co/ywSJPLsCoD">pic.twitter.com/ywSJPLsCoD</a>
— Facebook (@Facebook) <a href="https://twitter.com/Facebook/status/1453795115701440524?ref_src=twsrc%5Etfw">October 28, 2021</a></blockquote>
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"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.

<a href="https://www.wionews.com/technology/what-is-metaverse-the-new-buzzword-in-internet-technology-412364">Also Read:&nbsp;What is metaverse, the new buzzword in internet technology?</a>

However, Zuckerberg asserted that "our apps and their brands, they are not changing".

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Mark announces <a href="https://twitter.com/hashtag/Meta?src=hash&amp;ref_src=twsrc%5Etfw">#Meta</a>, the new name for FACEBOOK. <a href="https://t.co/I7O2xKsHr3">pic.twitter.com/I7O2xKsHr3</a>
— OTT Reporter (@Rahul7867861) <a href="https://twitter.com/Rahul7867861/status/1453797644711563289?ref_src=twsrc%5Etfw">October 28, 2021</a></blockquote>
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Facebook founder Zuckerberg spoke about the social media giant's vision for metaverse in a keynote live stream event.

<a href="https://www.wionews.com/technology/next-great-leap-in-evolution-of-internet-why-is-facebook-ceo-mark-zuckerberg-betting-on-metaverse-401150">Also Read |&nbsp;'Next great leap in evolution of internet': Why is Facebook CEO Mark Zuckerberg betting on metaverse?</a>

"Metaverse will have richer ways to connect," Zuckerberg said during the live video link as he described the virtual concept as a way to "connect with people".

He informed how "gaming" will change in the metaverse with a more "immersive experience".

<a href="https://www.wionews.com/technology/meta-or-facebook-twitter-users-make-fun-of-rebranding-of-social-media-platform-424869">Also Read:&nbsp;Twitter users make fun of rebranding of social media platform</a>

“The last few years have been humbling for me and our company in a lot of ways,” the Facebook chief conceded as he introduced “a social version of home” where users can “jump into apps” with other avatars.

"Work from anywhere" as a concept is&nbsp;high on the metaverse horizon, Zuckerberg explained. He said access to jobs for people will be a "gamechanger".

"Metaverse is the next frontier," Zuckerberg said.

(With inputs from Agencies)

Mark Zuckerberg announced that Facebook's name will now change to Meta to represent the company's vision of metaverse as the "next chapter" on the internet during a live stream event on Thursday.

Mark Zuckerberg announced that Facebook's name will now change to Meta to represent the company's vision of metaverse as the "next chapter" on the internet during a live stream event on Thursday. "To reflect who we are and what we hope to build I am proud to announce, starting today our company is now Meta," Zuckerberg said. "Our mission remains the same, it is still about bringing people together," he added while asserting that "we are still the company that designs technology around people." "Now we have a new north star to help bring the metaverse to life," Zuckerberg said. Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD — Facebook (@Facebook) October 28, 2021 × "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. Also Read: What is metaverse, the new buzzword in internet technology? However, Zuckerberg asserted that "our apps and their brands, they are not changing". Mark announces #Meta, the new name for FACEBOOK. pic.twitter.com/I7O2xKsHr3 — OTT Reporter (@Rahul7867861) October 28, 2021 × Facebook founder Zuckerberg spoke about the social media giant's vision for metaverse in a keynote live stream event. Also Read | 'Next great leap in evolution of internet': Why is Facebook CEO Mark Zuckerberg betting on metaverse? "Metaverse will have richer ways to connect," Zuckerberg said during the live video link as he described the virtual concept as a way to "connect with people". He informed how "gaming" will change in the metaverse with a more "immersive experience". Also Read: Twitter users make fun of rebranding of social media platform “The last few years have been humbling for me and our company in a lot of ways,” the Facebook chief conceded as he introduced “a social version of home” where users can “jump into apps” with other avatars. "Work from anywhere" as a concept is high on the metaverse horizon, Zuckerberg explained. He said access to jobs for people will be a "gamechanger". "Metaverse is the next frontier," Zuckerberg said. (With inputs from Agencies)

Facebook is now Meta, says Mark Zuckerberg, changes company name to reflect 'metaverse' vision

On Tech It Out, we keep trying to break down tech jargon to truly understand what innovation is all about. In this video, the tech concept that we are demystifying is "Metaverse". Find out what it is and why the tech community is passionately discussing it.

Tech It Out: What is the Metaverse?

Social media giant Facebook is mulling to rebrand itself with a new name that focuses on the&nbsp;metaverse.

According to a report published in 'The Verge,' Facebook Inc will announce the change in name next week.

The move would likely position the flagship app as one of many products under a parent company overseeing brands such as Instagram and WhatsApp as per the report.

Also see |&nbsp;<a href="https://www.wionews.com/photos/facebooks-ai-reality-scroll-images-on-a-computer-screen-by-just-thinking-about-it-371594" hreflang="en">Facebook's AI reality: Scroll images on a computer screen by just thinking about it</a>

In 2015,&nbsp;Google adopted such a structure when it reorganized into a holding company called Alphabet.

What is metaverse?

The Metaverse is a term used to describe a virtual space within digital environments such as online games, social media, and virtual reality. It is a combination of the prefix "meta", meaning beyond, and stem "universe".

Coined by Neal Stephenson, the metaverse is, in fact, the stuff of science-fiction. He talked about it in detail in his 1992 novel "Snow Crash", in which people don virtual reality headsets to interact inside a game-like digital world. The book has long enjoyed cult status among Silicon Valley entrepreneurs.

The term, which&nbsp;derived from digital antiquity, was re-imagined as the Oasis in Ernest Cline's novel ''Ready Player One.''

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Freed from cultural and economic sclerosis, a&nbsp;utopian metaverse may be portrayed as a new frontier in fiction, where social norms and value systems can be written anew.&nbsp;But more often, metaverses are a bit dystopian, virtual refuges from a fallen world.

Recently, metaverse has become one of the tech sector's hottest buzzwords, with companies pouring millions of dollars into its development.

'Next great leap'

Metaverse is a vision of the future that may sound fantastical, but which tech titans like Facebook founder Mark Zuckerberg are betting on as the next great leap in the evolution of the internet.

It refers to shared virtual worlds where land, buildings, avatars, and even names can be bought and sold, often using cryptocurrency.

In these environments, people can wander around with friends, visit buildings, buy goods and services, and attend events.

With the help of augmented reality glasses, it might allow you to see information whizz before your eyes as you walk around a city, from traffic and pollution updates to local history.

Surge in popularity

As Covid lockdown measures and work-from-home policies pushed more people online for both business and pleasure, the concept has surged in popularity during the pandemic.

Games in which players enter immersive digital worlds offer a glimpse into what the metaverse could eventually look like, blurring virtual entertainment with the real-world economy.

World built on blockchain

As far back as the early 2000s, the game Second Life allowed people to create digital avatars that could interact and shop with real money.

More recently, plots of land in Decentraland, a virtual world where visitors can watch concerts, visit art galleries, and gamble in casinos, have sold for hundreds of thousands of dollars in MANA, a cryptocurrency.

'More than a game'

The hugely popular video game Fortnite has also expanded into other forms of entertainment, with 12.3 million people logging in to watch rapper Travis Scott perform last year. Fortnite's owners Epic Games said in April that $1 billion of funding raised recently would be used to support its "vision for the metaverse".

And on Roblox, a gaming platform popular with children, a digital version of a Gucci bag sold in May for over $4,100, more than the physical version would have cost.

(With inputs from agencies)

Social media giant Facebook is mulling to rebrand itself with a new name that focuses on the metaverse. According to a report published in 'The Verge,' Facebook Inc will announce the change in name next week.

Social media giant Facebook is mulling to rebrand itself with a new name that focuses on the metaverse. According to a report published in 'The Verge,' Facebook Inc will announce the change in name next week. The move would likely position the flagship app as one of many products under a parent company overseeing brands such as Instagram and WhatsApp as per the report. Also see | Facebook's AI reality: Scroll images on a computer screen by just thinking about it In 2015, Google adopted such a structure when it reorganized into a holding company called Alphabet. What is metaverse? The Metaverse is a term used to describe a virtual space within digital environments such as online games, social media, and virtual reality. It is a combination of the prefix "meta", meaning beyond, and stem "universe". Coined by Neal Stephenson, the metaverse is, in fact, the stuff of science-fiction. He talked about it in detail in his 1992 novel "Snow Crash", in which people don virtual reality headsets to interact inside a game-like digital world. The book has long enjoyed cult status among Silicon Valley entrepreneurs. The term, which derived from digital antiquity, was re-imagined as the Oasis in Ernest Cline's novel ''Ready Player One.'' Freed from cultural and economic sclerosis, a utopian metaverse may be portrayed as a new frontier in fiction, where social norms and value systems can be written anew. But more often, metaverses are a bit dystopian, virtual refuges from a fallen world. Recently, metaverse has become one of the tech sector's hottest buzzwords, with companies pouring millions of dollars into its development. 'Next great leap' Metaverse is a vision of the future that may sound fantastical, but which tech titans like Facebook founder Mark Zuckerberg are betting on as the next great leap in the evolution of the internet. It refers to shared virtual worlds where land, buildings, avatars, and even names can be bought and sold, often using cryptocurrency. In these environments, people can wander around with friends, visit buildings, buy goods and services, and attend events. With the help of augmented reality glasses, it might allow you to see information whizz before your eyes as you walk around a city, from traffic and pollution updates to local history. Surge in popularity As Covid lockdown measures and work-from-home policies pushed more people online for both business and pleasure, the concept has surged in popularity during the pandemic. Games in which players enter immersive digital worlds offer a glimpse into what the metaverse could eventually look like, blurring virtual entertainment with the real-world economy. World built on blockchain As far back as the early 2000s, the game Second Life allowed people to create digital avatars that could interact and shop with real money. More recently, plots of land in Decentraland, a virtual world where visitors can watch concerts, visit art galleries, and gamble in casinos, have sold for hundreds of thousands of dollars in MANA, a cryptocurrency. 'More than a game' The hugely popular video game Fortnite has also expanded into other forms of entertainment, with 12.3 million people logging in to watch rapper Travis Scott perform last year. Fortnite's owners Epic Games said in April that $1 billion of funding raised recently would be used to support its "vision for the metaverse". And on Roblox, a gaming platform popular with children, a digital version of a Gucci bag sold in May for over $4,100, more than the physical version would have cost. (With inputs from agencies)

What is metaverse, the new buzzword in internet technology?

Facebook on Monday announced plans to hire 10,000 people in the European Union to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future.

Facebook CEO Mark Zuckerberg has been a leading voice in Silicon Valley hype around the idea of the metaverse, which would blur the lines between the physical world and the digital one.

Also Read |&nbsp;<a href="https://www.wionews.com/world/hate-speech-for-profit-facebook-whistleblower-reveals-identity-418061">Hate speech for profit: Facebook whistleblower reveals identity</a>

The technology might, for example, allow someone to don virtual reality glasses that make it feel as if they're face-to-face with a friend -- when in fact they are thousands of miles apart and connected via the internet.&nbsp;

"The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start," Facebook said in a blog post.&nbsp;

"Today, we are announcing a plan to create 10,000 new high skilled jobs within the European Union (EU) over the next five years."

The European hires will include "highly specialised engineers", but the company otherwise gave few details of its plans for the new metaverse team. &nbsp;

"The EU has a number of advantages that make it a great place for tech companies to invest -- a large consumer market, first class universities and, crucially, top quality talent," the blog post said.&nbsp;

Distraction from bad news ?&nbsp;

The announcement comes as Facebook grapples with the fallout of a damaging scandal, major outages of its services, and rising calls for regulation to curb its vast influence.&nbsp;

The company has faced a storm of criticism over the past month after former employee Frances Haugen leaked internal studies showing Facebook knew its sites could be harmful to young people's mental health.

The Washington Post last month suggested that Facebook's interest in the metaverse is "part of a broader push to rehabilitate the company's reputation with policymakers and reposition Facebook to shape the regulation of next-wave Internet technologies".

Also Read |&nbsp;<a href="https://www.wionews.com/world/how-facebook-kept-secret-list-of-terror-organisations-hate-groups-and-criminals-420423">How Facebook kept secret list of terror organisations, hate groups and criminals</a>

But Zuckerberg also appears to be a genuine evangelist for the advent of the metaverse era, predicting in July that Facebook will transition from "primarily being a social media company to being a metaverse company" over the next five years.&nbsp;

Facebook bought Oculus, a company that makes virtual reality headsets, for $2 billion in 2014 and has since been developing Horizon, a digital world where people can interact using VR technology.&nbsp;

In August it unveiled Horizon Workrooms, a feature where co-workers wearing VR headsets can hold meetings in a virtual room where they all appear as cartoonish 3D versions of themselves.&nbsp;

Blurring the lines&nbsp;

Metaverse enthusiasts point out that the internet is already starting to blur the lines between virtual experiences and "real" ones.&nbsp;

Stars such as pop diva Ariana Grande and the rapper Travis Scott have performed for huge audiences, watching at home, via the hit video game Fortnite.&nbsp;

Also Read |<a href="https://www.wionews.com/technology/facebook-backed-group-launches-misinformation-adjudication-panel-in-australia-419803">&nbsp;Facebook-backed group launches misinformation adjudication panel in Australia</a>

In Decentraland, another online platform widely seen as a forerunner to the metaverse, you can already get a job as a croupier in its virtual casino.&nbsp;

"No one company will own and operate the metaverse. Like the internet, its key feature will be its openness and interoperability," Facebook said in its blog post.&nbsp;

It is not the only company pouring millions into developing the technology that could turn a fully-fledged version of the metaverse into reality.&nbsp;

Epic Games, the company behind Fortnite, announced earlier this year that it had raised $1 billion in new funding, with some of that money set to support its vision of the metaverse.

Facebook on Monday announced plans to hire 10,000 people in the European Union to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future.

Facebook on Monday announced plans to hire 10,000 people in the European Union to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future. Facebook CEO Mark Zuckerberg has been a leading voice in Silicon Valley hype around the idea of the metaverse, which would blur the lines between the physical world and the digital one. Also Read | Hate speech for profit: Facebook whistleblower reveals identity The technology might, for example, allow someone to don virtual reality glasses that make it feel as if they're face-to-face with a friend -- when in fact they are thousands of miles apart and connected via the internet. "The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start," Facebook said in a blog post. "Today, we are announcing a plan to create 10,000 new high skilled jobs within the European Union (EU) over the next five years." The European hires will include "highly specialised engineers", but the company otherwise gave few details of its plans for the new metaverse team. "The EU has a number of advantages that make it a great place for tech companies to invest -- a large consumer market, first class universities and, crucially, top quality talent," the blog post said. Distraction from bad news ? The announcement comes as Facebook grapples with the fallout of a damaging scandal, major outages of its services, and rising calls for regulation to curb its vast influence. The company has faced a storm of criticism over the past month after former employee Frances Haugen leaked internal studies showing Facebook knew its sites could be harmful to young people's mental health. The Washington Post last month suggested that Facebook's interest in the metaverse is "part of a broader push to rehabilitate the company's reputation with policymakers and reposition Facebook to shape the regulation of next-wave Internet technologies". Also Read | How Facebook kept secret list of terror organisations, hate groups and criminals But Zuckerberg also appears to be a genuine evangelist for the advent of the metaverse era, predicting in July that Facebook will transition from "primarily being a social media company to being a metaverse company" over the next five years. Facebook bought Oculus, a company that makes virtual reality headsets, for $2 billion in 2014 and has since been developing Horizon, a digital world where people can interact using VR technology. In August it unveiled Horizon Workrooms, a feature where co-workers wearing VR headsets can hold meetings in a virtual room where they all appear as cartoonish 3D versions of themselves. Blurring the lines Metaverse enthusiasts point out that the internet is already starting to blur the lines between virtual experiences and "real" ones. Stars such as pop diva Ariana Grande and the rapper Travis Scott have performed for huge audiences, watching at home, via the hit video game Fortnite. Also Read | Facebook-backed group launches misinformation adjudication panel in Australia In Decentraland, another online platform widely seen as a forerunner to the metaverse, you can already get a job as a croupier in its virtual casino. "No one company will own and operate the metaverse. Like the internet, its key feature will be its openness and interoperability," Facebook said in its blog post. It is not the only company pouring millions into developing the technology that could turn a fully-fledged version of the metaverse into reality. Epic Games, the company behind Fortnite, announced earlier this year that it had raised $1 billion in new funding, with some of that money set to support its vision of the metaverse.

Facebook announces 10,000 European Union jobs to build 'metaverse'

Facebook is planning to hire 10,000 people in the European Union in order to develop a metaverse, which is an online world where people can game, work and communicate in a virtual environment, often using VR headsets.

Facebook CEO Mark Zuckerberg has been a leading voice for the new concept.&nbsp;

In a blog post, Facebook said, "The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start."

This will create new jobs for people over the next five years. This will specifically include "highly specialised engineers".

Facebook said that investing in EU offered many advantages, including access to a large consumer market, first-class universities and high-quality talent.&nbsp;

Facebook claims that the metaverse "won't be built overnight by a single company" and has promised to collaborate.

However, it thinks the true metaverse idea will take another 10 to 15 years.

<a href="https://www.wionews.com/world/hate-speech-for-profit-facebook-whistleblower-reveals-identity-418061">Also read |&nbsp;Hate speech for profit: Facebook whistleblower reveals identity</a>

As per critics, this latest announcement is an attempt to re-establish the company's reputation and divert attention.

This includes revelations made by Facebook whistleblower Frances Haugen who shared a trove of Facebook documents alleging that the social media giant knew its products were fueling hate and harming children's mental health revealed her identity on Sunday in a televised interview.&nbsp;

Frances Haugen, a 37-year-old data scientist from Iowa, accused the company of choosing "profit over safety."

<a href="https://www.wionews.com/world/facebook-weakens-our-democracy-harms-kids-top-quotes-from-whistleblower-frances-haugens-testimony-418489">Also read |&nbsp;'Facebook weakens our democracy, harms kids': Top quotes from whistleblower Frances Haugen’s testimony</a>

In an interview with the CBS news show "60 Minutes", she said that Facebook was "substantially worse" than anything she had seen before. "Facebook over and over again has shown it chooses profit over safety. It is subsidising, it is paying for its profits with our safety," Haugen said.

Haugen as an unnamed whistleblower shared documents with US lawmakers and The Wall Street Journal that detailed how Facebook knew its products, including Instagram, were harming young girls, especially around body image.

Facebook is planning to hire 10,000 people in the European Union in order to develop a metaverse, which is an online world where people can game, work and communicate in a virtual environment, often using VR headsets.

Facebook is planning to hire 10,000 people in the European Union in order to develop a metaverse, which is an online world where people can game, work and communicate in a virtual environment, often using VR headsets. Facebook CEO Mark Zuckerberg has been a leading voice for the new concept. In a blog post, Facebook said, "The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start." This will create new jobs for people over the next five years. This will specifically include "highly specialised engineers". Facebook said that investing in EU offered many advantages, including access to a large consumer market, first-class universities and high-quality talent. Facebook claims that the metaverse "won't be built overnight by a single company" and has promised to collaborate. However, it thinks the true metaverse idea will take another 10 to 15 years. Also read | Hate speech for profit: Facebook whistleblower reveals identity As per critics, this latest announcement is an attempt to re-establish the company's reputation and divert attention. This includes revelations made by Facebook whistleblower Frances Haugen who shared a trove of Facebook documents alleging that the social media giant knew its products were fueling hate and harming children's mental health revealed her identity on Sunday in a televised interview. Frances Haugen, a 37-year-old data scientist from Iowa, accused the company of choosing "profit over safety." Also read | 'Facebook weakens our democracy, harms kids': Top quotes from whistleblower Frances Haugen’s testimony In an interview with the CBS news show "60 Minutes", she said that Facebook was "substantially worse" than anything she had seen before. "Facebook over and over again has shown it chooses profit over safety. It is subsidising, it is paying for its profits with our safety," Haugen said. Haugen as an unnamed whistleblower shared documents with US lawmakers and The Wall Street Journal that detailed how Facebook knew its products, including Instagram, were harming young girls, especially around body image.

Facebook plans on hiring 10,000 people in EU to work on metaverse

Imagine a world where you could sit on the same couch as a friend who lives thousands of miles away, or conjure up a virtual version of your workplace while at the beach.

Welcome to the&nbsp;metaverse: a vision of the future that sounds fantastical, but which tech titans like Facebook founder Mark Zuckerberg are betting on as the next great leap in the evolution of the internet.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-joe-biden-lashes-out-at-facebook-over-vaccine-misinformation-399119/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The&nbsp;metaverse&nbsp;is, in fact, the stuff of science-fiction: the term was coined by Neal Stephenson in his 1992 novel "Snow Crash", in which people don virtual reality headsets to interact inside a game-like digital world.&nbsp;

The book has long enjoyed cult status among Silicon Valley entrepreneurs,&nbsp;but in recent months the&nbsp;metaverse&nbsp;has become one of the tech sector's hottest buzzwords, with companies pouring millions of dollars into its development.&nbsp;

Facebook fuelled the excitement further Monday by announcing the creation of a new team to work on Zuckerberg's vision of the&nbsp;metaverse.

Facebook, the world's largest social network, has invested heavily in virtual reality and augmented reality, developing hardware such as its Oculus VR headsets and working on AR glasses and wristband technologies.

It has also bought a bevy of VR gaming studios, including BigBox VR. It has about 10,000 employees working on virtual reality, The Information reported in March.

Zuckerberg has said he thinks it makes sense to invest deeply to shape what he bets will be the next big computing platform.

"I believe the&nbsp;metaverse&nbsp;will be the successor to the mobile internet, and creating this product group is the next step in our journey to help build it," he said on his Monday Facebook post.

He told The Verge: "If we do this well, I think over the next five years or so ... we will effectively transition from people seeing us as primarily being a social media company to being a&nbsp;metaverse&nbsp;company."

As with many tech buzzwords, the definition of the&nbsp;metaverse&nbsp;depends on whom you ask. But broadly, it involves blending the physical world with the digital one.&nbsp;

With the help of augmented reality glasses, it might allow you to see information whizz before your eyes as you walk around a city, from traffic and pollution updates to local history.

But&nbsp;metaverse&nbsp;enthusiasts are dreaming of a future in which the idea could be extended much further, allowing us to be transported to digital settings that feel real, such as a nightclub or a mountaintop.&nbsp;

As workers have grown weary of video conferences during the pandemic, Zuckerberg is particularly excited about the idea that co-workers could be brought together in a virtual room that feels like they are face-to-face.

Games in which players enter immersive digital worlds offer a glimpse into what the&nbsp;metaverse&nbsp;could eventually look like, blurring virtual entertainment with the real-world economy.

As far back as the early 2000s, the game Second Life allowed people to create digital avatars that could interact and shop with real money.&nbsp;

More recently, plots of land in Decentraland -- a virtual world where visitors can watch concerts, visit art galleries, and gamble in casinos -- have sold for hundreds of thousands of dollars in MANA, a cryptocurrency.

The hugely popular video game Fortnite has also expanded into other forms of entertainment, with 12.3 million people logging in to watch rapper Travis Scott perform last year. Fortnite's owners Epic Games said in April that $1 billion of funding raised recently would be used to support its "vision for the&nbsp;metaverse".&nbsp;

And on Roblox, a gaming platform popular with children, a digital version of a Gucci bag sold in May for more than $4,100,&nbsp;more than the physical version would have cost.&nbsp;

(With inputs from agencies)

Imagine a world where you could sit on the same couch as a friend who lives thousands of miles away, or conjure up a virtual version of your workplace while at the beach.

Imagine a world where you could sit on the same couch as a friend who lives thousands of miles away, or conjure up a virtual version of your workplace while at the beach. Welcome to the metaverse: a vision of the future that sounds fantastical, but which tech titans like Facebook founder Mark Zuckerberg are betting on as the next great leap in the evolution of the internet. The metaverse is, in fact, the stuff of science-fiction: the term was coined by Neal Stephenson in his 1992 novel "Snow Crash", in which people don virtual reality headsets to interact inside a game-like digital world. The book has long enjoyed cult status among Silicon Valley entrepreneurs, but in recent months the metaverse has become one of the tech sector's hottest buzzwords, with companies pouring millions of dollars into its development. Facebook fuelled the excitement further Monday by announcing the creation of a new team to work on Zuckerberg's vision of the metaverse. Facebook, the world's largest social network, has invested heavily in virtual reality and augmented reality, developing hardware such as its Oculus VR headsets and working on AR glasses and wristband technologies. It has also bought a bevy of VR gaming studios, including BigBox VR. It has about 10,000 employees working on virtual reality, The Information reported in March. Zuckerberg has said he thinks it makes sense to invest deeply to shape what he bets will be the next big computing platform. "I believe the metaverse will be the successor to the mobile internet, and creating this product group is the next step in our journey to help build it," he said on his Monday Facebook post. He told The Verge: "If we do this well, I think over the next five years or so ... we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company." As with many tech buzzwords, the definition of the metaverse depends on whom you ask. But broadly, it involves blending the physical world with the digital one. With the help of augmented reality glasses, it might allow you to see information whizz before your eyes as you walk around a city, from traffic and pollution updates to local history. But metaverse enthusiasts are dreaming of a future in which the idea could be extended much further, allowing us to be transported to digital settings that feel real, such as a nightclub or a mountaintop. As workers have grown weary of video conferences during the pandemic, Zuckerberg is particularly excited about the idea that co-workers could be brought together in a virtual room that feels like they are face-to-face. Games in which players enter immersive digital worlds offer a glimpse into what the metaverse could eventually look like, blurring virtual entertainment with the real-world economy. As far back as the early 2000s, the game Second Life allowed people to create digital avatars that could interact and shop with real money. More recently, plots of land in Decentraland -- a virtual world where visitors can watch concerts, visit art galleries, and gamble in casinos -- have sold for hundreds of thousands of dollars in MANA, a cryptocurrency. The hugely popular video game Fortnite has also expanded into other forms of entertainment, with 12.3 million people logging in to watch rapper Travis Scott perform last year. Fortnite's owners Epic Games said in April that $1 billion of funding raised recently would be used to support its "vision for the metaverse". And on Roblox, a gaming platform popular with children, a digital version of a Gucci bag sold in May for more than $4,100, more than the physical version would have cost. (With inputs from agencies)

'Next great leap in evolution of internet': Why is Facebook CEO Mark Zuckerberg betting on metaverse?

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