Facebook has recently followed Google’s steps and created a new holding company to restructure its businesses under the new brand Meta. The name symbolises Facebook’s firm belief that ‘virtual reality’ is the next frontier for the social media network to conquer.A boasting Mark Zuckerberg eagerly demonstrated the experiences virtual worlds can bring to private and workplace experiences (if you missed Mark’s virtual presentation, you can check it out below).
Whether users welcome this new virtual world with the same degree of alacrity remains to be seen. Facebook, aka Meta, will have to succeed in essentially creating culture and changing lifestyles in the same way that Apple or Tesla have.
We have summarised some of the most relevant articles on the Metaverse below:
While the consensus of these articles is clear and overwhelmingly skeptical of Facebook’s latest move, we must not forget that groundbreaking innovation is often initially challenged. Whether the Metaverse will change our lives as profoundly as social media did when first launched remains to be seen. Whether Facebook will be able to spearhead, guide, and ultimately own the Metaverse is probably even less likely. However, what Facebook has accomplished is to shine a bright spotlight on the potential that augmented and virtual reality solutions can bring to everyday life and business applications.
In the light of COVID-19 travel restrictions, companies have long started re-evaluating past choices. At Impala Services, we believe that virtual solutions can be applied in a meaningful way to present-day business issues. Such solutions could involve turning traditional product photo shootings into virtual CGI photography or streamlining product sourcing efforts by virtually connecting merchandising and procurement teams with factories and vendors located hundreds of thousands of miles away.