What is Meta Facebook? 5 keys to understand the change and future of the metaverse

Explore what is Meta Facebook and the changes of this emerging technology. Here are the 5 key points and the next steps to prepare...

If you've been wondering why Facebook changed its name to Meta and what changes await us after the arrival of the metaverse to digital marketing, I'll tell you:

The metaverse is quite a buzzword these days and one that leaves no one out about the impact it will have.

According to experts, this new technology will be the great revolution of this century and the next level of the Internet.

Just a couple of years ago, fiction films such as Matrix or the Black Mirror series presented us with the perspective of a society completely immersed in a digital world. It was unimaginable to think that such fictions could transcend the screen.

Now a virtually interconnected future seems almost a given.

The technological evolution of recent years has led to change different sectors of society, mainly the way we communicate. The desire to be connected and to be able to enjoy increasingly realistic experiences through different devices has led to the advancement of building increasingly realistic and detailed moments, applied to virtuality.

There enters this "new" concept of the metaverse, meta meaning beyond and -verse, from the root universe.

To give a brief context of the metaverse, this is not a new word. It has its origins in an old concept from Neal Stephenson's 1992 novel Snow Crash, which tells of the possibility of connecting worlds and living in an alternate virtual space compatible with and concurring with reality.

In other words, the metaverse is the idea of having a 3D virtual world that you can freely access and live a simulated reality.

The way to be in these metaverses is through devices such as virtual reality goggles, the best known of which are the Oculus from the company Facebook. These guarantee a sensory experience to control an avatar or character and interact with other users who are within this universe.

The most common virtual reality has its beginnings in video games. A good example to understand it can be the video game Fortnite, where players enter this fictional world in a virtual space to have fun but also have access to an identity, local currency and even virtual concerts.

And if we go back years, simulation games such as second life aimed to provide this experience of digital life projection through personalized avatars that interact with each other and develop multiple aspects of daily life.

However, the concept of metaverse is not only limited to video games. It expands to all human activities, from going to work, going to the stadium, watching a movie, and so on.

As you can see, these parallel realities are not exactly something new, and with technological advances, the construction of metaverses aims to enhance these interactions in 3D ecosystems, trying to accurately emulate everyday life.

And I'm sure you're wondering: why is Facebook so interested in developing it? ...

Here are 5 keys to the importance of the Metaverse for Facebook and its future:

According to a report by Bloomberg Intelligence, this new digital market has an economic potential of more than 800,000 million dollars and it is expected that by 2030 this figure will multiply.

Have you heard the phrase: if you're not the first, you're the last? Facebook has understood this very well. In 2021 alone, it invested more than 10 billion US in the creation of the metaverse to be a leader in these new technologies.

3. The Metaverse is not what awaits us, but what is already happening. The average time a person spends on social networks is 2.27 minutes a day according to the Global Overview Report study; this represents more than 15% of our activity when we are awake. The Metaverse for Facebook may be the leap from all its platforms (facebook, whatsapp, instagram) to a 100% virtual reality in an increasingly hyperconnected world.

4. Change of mission to the future. The change of name lies mainly in having a name that encompasses the purpose of the company, not only to see the content but to be inside it. 

5. Other theories point out that this name change is a product of the worst reputation crisis suffered by the brand. Disclosures made by former employees and the leak of data that compromised the privacy of users affected the Platform.

What does Facebook Meta mean?

As expressed by its creator, Mark Zuckerberg, the company's goal will essentially remain the same: to connect more people and expand the possibility of relationship, only now with a more immersive reality.

In Zuckerberg's words, the metaverse is: "everything we do online today, connecting socially, entertaining, playing, working and being more natural and alive. We believe the metaverse will be the successor to the mobile internet, you will be able to do almost anything you can imagine. The feeling of being present, that's the defining characteristic of the metaverse."

He gave this introduction just the day he announced the name change from Facebook to Meta in a live broadcast accompanied by realistic graphics of what this virtual universe will be like.

We could deduce that from Facebook or Meta they intend to take social networks to the next level. The most real level in the virtual.

Sounds amazing but also disturbing, doesn't it?

Facebook assures that its technology will be accessible to everyone and they highlight it in a very positive way. Now, we have to wait and see if this will finally be the case.

History: why does Facebook change to Meta?

We could say that we already belong to a metaverse. The Internet is a metaverse in itself, only that we are the main characters behind a screen.

But, another very interesting vision of the metaverse is the one described by Shann Puri, director of Twitch. The metaverse, according to him, is not a place, it is a space in time.

Did you get confused?

I know, for I have been talking to you at length about the metaverse as a place, and now I bring you this concept.

And then... what is it finally... a place or a space?

Well, this concept expresses that they are both and helps us understand why the transition from Facebook to Meta. A change that may be more natural than you think.

Just as in humanity we go through periods where we focus our attention on new customs and abandon others, this century is marked by the transcendence of the digital over the physical.

How many people do you know without whatsapp? I would venture to say none.

In fact, many people prefer an interaction via whatsapp, instagram, or the social network of greater affinity rather than a call or face-to-face meeting.

You know where I'm going with this? Yes, we are giving more importance to the virtual versus the real:

·       We are giving more relevance to our zoom meetings, to the likes we have on instagram photos or titok views.

·       There are more kids playing Fornite than playing soccer on playgrounds.

·       Are you familiar with the rise of telecommuting?

·       Your friends, your photos, even sports, became digital.

It is the time where much value is given to the virtual plane. So digital assets could become more valuable than physical assets and this opportunity was not overlooked at Facebook. 

The change from Facebook to Meta may have a main objective of repositioning by seeking to be perceived as a company that offers virtual services in general.

Another reason for its change is due to the alignment of the company's mission with that of its CEO, Mark Zuckerberg, who by 2030 wants to achieve virtual teleportation.

In this change from Facebook to Meta, they intend to be the main scenario of human activities, involving daily actions such as going to work, studying, shopping, etc.

It should be noted that this change of structure would only be for its parent company Facebook Inc. Its apps will not disappear (Facebook, Instagram, WhatsApp, Messenger) and will continue to operate normally.

What is Meta and how does it work?

If I could encapsulate in one word the change from facebook to meta it would be continuity.

The limitations of current devices such as cell phones, tablets or computers, have a technological restriction of what can be done or not. Meta wants to overcome these physical chains and give continuity to creating augmented reality worlds that can be interconnected.

Just one of the company's flagships with the evolution of Facebook to Meta is not necessarily to lead users to spend more hours in front of a screen but on the contrary to merge the real and virtual worlds.

Now. Getting into how Meta works, the first thing you should understand is that the company's metaverse is called Horizon. There you will be able to access commerce, entertainment, education, work and even social networks. All this interacting with other avatars or people. All this in a fictitious world.

Have you ever wondered how to enter the metaverse?

To access Horizon you only need three things: 

1. Virtual reality glasses, called Oculus. An all-in-one system that doubles as the main hardware. You don't need a computer or a console to live the experience.

2. Hand controls to interact with objects and feel textures.

3. You must have an avatar, creating it from the Facebook platform.

With these elements in hand, you are ready to play, entertain, view exclusive content or interact with other users.

How secure and private is the metaverse?

This question is of concern to many. The development of technology alone raises several questions, not the least of which is the handling of privacy and data protection with which personal information must be treated in the metaverse.

It is early to make judgments, but the question of whether the metaverse may be the victimizer of personal data is alarming.

In a world that will recreate reality and everyday life as naturally as they intend, the amount of personal information exposed through interactions with other participants in the metaverse, such as tastes, interests, aspirations, marital status, economic situation and other data will be very large.

The information they will be able to collect from their users will be much greater. Our fingerprint, biometric data, financial data and browsing preferences will be uploaded to the data centers that support the operation of the metaverse.

Facebook's scandals in recent years do not give any peace of mind to the ethical handling they may take with our information.

Cambridge Analytica and other scandals involving leaks of Facebook's internal politics by former employees are the background that should be taken into account to enter the metaverse. Data theft, political interference, promotion of hate speech and news censorship can damage your credibility.

The use of shady practices in its artificial intelligence technology was so exposed that they can generate consequences. 

The law behind this new reality

Yes, there are still many questions to be answered as to how the laws will be applied within this metaverse.

Data protection rules are very recent for the years that the Internet has been around. One of the problems is to develop a legal framework that covers all scenarios and protects rights and freedoms.

How will conditions be regulated... If there are rights, are there obligations... Do my rights end where others' begin?

How do you guarantee that each person, within the metaverse, is who they say they are... Will they have penalties in the real world?

In Meta's official Data and Privacy Policy, at facebook.com/privacy/policy, you can see how the acquired data will be treated: only for advertisers and product development.

But the penalties for data processing are not clear and they mention that this field is the responsibility of third parties. Let's review what is found in this section on the Meta page:

"In response to lawful requests, such as search warrants, court orders, subpoenas or subpoenas. These requests come from third parties, such as civil litigants, law enforcement and other governmental authorities."

Faced with the uncertainty of the risk of vulnerability and misuse of the exposed information, it is necessary for the metaverse to have a strong and rigorous information security policy. An action that provides peace of mind in the face of any threat of criminal acts that may be carried out with publicly exposed and fraudulently collected information.

Today with Meta it is time to reflect on what you can and cannot do in the face of the greatest power in your universe.

How will our way of living with Meta change?

Uncertainty rules when thinking about how living in a world of total immersion in Meta will change our lives. Let's review some scenarios that create doubt:

·       Will entertainment or sports change?

Most likely yes. Even the development of the Metaverse as proposed by Facebook is at an early stage and already esports (recognized sports video games) have taken the lead with millions of users participating in League of Legend or FIFA tournaments. The number of esports is sure to increase.

·       Will it be the end of televisions, cell phones, tablets?

We may see a transition of obsolescence, but in the medium term, they will be useful for older generations not linked or reluctant to a lateral technological change.

·       Will it affect users psychologically?

Yes. Mental health risks are not far behind. Digital dependency may be one of the biggest problems in this new virtual environment.

The excessive use of cell phones has reached the point of generating addiction. In fact, there are already rehabilitation centers to treat this disease.

Now imagine the dependency that can come from having an interactive experience with unlimited content.

·       Problems of the virtual society?

The episodes of the Futurama series know how to describe perfectly the problems of society, no matter how advanced they are. They will always be present.

Not much time has passed since the launch of the metaverse and the first reports of harassment of women are already known.

We wish we didn't have to hear any more episodes like these, but they are liable to be repeated.

Fraud is another malaise that can take center stage. Impersonation can be "currency" in the Metaverse and all that can come with cryptocurrency theft and scams.

With the arrival of this new metaverse, it is assured that there will be a labor market in high demand. An important variable for human productivity, which will have an impact on the presentiality and the type of professionals with a field of action in digital.

The 5 professions that may be most in demand in the metaverse are:

Ecosystem developers.

Hardware and software engineers.

3. Cybersecurity experts.

4. Experts in Digital Marketing.

5. Storytellers.

Does the Metaverse matter?

Yes, the metaverse matters a lot. That's for sure. It's going to change the way we connect and it's going to change the way industries move.

The metaverse encompasses: Internet, Blockchain, immersive technologies, artificial intelligence and digital terrains. Everything necessary that moves society today.

This revolution will not be indifferent to any economic sector and the economy is the foundation of any society. Therefore, this transformation will be imminent and it is better to be prepared for the changes that may occur.

From digital marketing, many companies are already exploring how to make their presence felt in these virtual realities. Well-known fashion companies such as Zara, for example, have already launched their first collection of virtual garments.

There are even fashion brands with a presence only in the metaverse. One of them is Dress Xa virtual fashion boutique to dress avatars.

That's just one example. Many brands have joined these initiatives: Nike, Adidas, Ralph Lauren, Dior, Prada. Creating their own spaces in these metaverses.

Other sectors are not far behind. The beverage giant Coca-Cola launched its 8 Bits soft drink, the first soda born in the metaverse.

Brands such as Hyundai and Ferrari are involved in the metaverse and offer experiences to move around in interactive style aboard a sports car.

Ikea is already exploring its arrival in the metaverse. People will have a home in this virtual space to decorate and with a huge market potential there.

You see, if the economy moves, change is elastic to all the other factors that converge in society. And the metaverse is here to revolutionize.

The sinister algorithm and the 'Facebook Papers'.

A few paragraphs ago we mentioned that the company Facebook had been involved in scandals for leaks and malpractices and part of this theorizes its rebranding to Meta.

Well, this has its origin in the "Facebook Papers". Let's start by clarifying what we are referring to.

The papers are more than 10,000 pages of documents leaked by former Facebook employee Frances Haugen. In them she reveals how this giant was being used to spread hate messages and content inciting violence in Ethiopia where there is a civil war and Facebook's inability to stop these messages.

Another point is that the Company, since 2018, knew of the existence of human traffickers using its platform to commit these acts.

And finally, the knowledge of what their social network Instagram is harmful to young people, mostly women.

The scandal resulted in the failure to create and achieve changes. In the exposed documents, Facebook employees warned management of all these problems.

Still, there was a refusal to make necessary changes and have a more secure social network. The negative impact it could have on finances and focusing only on the monetary goal led the company to silence.

5 of the "facebook papers" revelations:

1. Censorship and blocking of freedom of expression for countries outside the United States.

2. Slave traffic through its network.

3. Ignored requests for a change in the policy of moderation of violence by its collaborators.

4. Instagram exposure in young people is harmful. It generates insecurity about how they perceive themselves in their body image, increasing rates of anxiety and depression.

5. Solutions ignored by Facebook decision makers.

Advantages and Disadvantages of Meta Facebook

Every technological advance brings with it good and bad things. This is not the first time this has been discussed. This was also the case when social networks arrived.

Among the most positive points that could mark the arrival of Meta Facebook are:

·       The economic opportunity in the virtual environment. As we have already seen, many companies have already put their chips on these new platforms to trade digital products.

·       Access to new technologies and a next step for connectivity.

·       Less actual displacement and more connectivity.

·       Visiting other countries and cultures without being there.

·       Job opportunities for professionals in the metaverse.

·       Revolution in education, accessibility to as many people as possible.

·       Possibility for advertisers to deliver a more realistic and personalized experience to their consumers.

·       Savings is product testing, more reliable and faster research.

There are also other scenarios considered disadvantages with the advent of the metaverse:

·       Greater immersion in a virtual rather than a digital world with possible negative mental and physical health outcomes.

·       Increased vulnerability of personal data. There will be nothing to hide, except what we think and do not share.

·       Potential obsolescence of many face-to-face jobs.

·       Exposure to fraud and theft of biometric data.

·       The lack of hardware will be a constraint to its mass accessibility to the entire population.

Examples of Meta Facebook

Meta Facebook is creating a super-powerful universe that now has more weight in the interaction through video games, but its projection is aimed at a fairly broad catalog of options.

Going to concerts, watching a soccer match live from the stands, going shopping or even visiting a country, is the purpose that Meta Facebook is looking for in the very near future.

Meta facebook is not the only example of metaverse, large technology companies have already joined efforts in the race to reach the metaverse.

Microsoft, for example, will have its own Metaverse, only that, unlike Meta, this one has a productivity and not a leisure objective. For now, its proposal is focused on increasing the efficiency of work teams through what they have called "digital twins".

Users will be able to be part of this metaverse thanks to the fact that Mesh, as their metaverse will be called, will be able to integrate with Microsoft Teams. In this way, each person in Teams will be able to have a projection of themselves in an avatar, their digital twin, to share with co-workers and simulate a face-to-face experience from home, in other words: an alternative to being present.

The area of academic training as a consequence of covid-19 also had a reinvention and with the arrival of the metaverse it will be very possible for E-learning platforms to concentrate their efforts in developing their products through the immersive virtuality offered by metaverses.

To conclude: present and future of Meta Facebook

Meta as a company will continue in its exploration phase. They have made developments that are still far from the purpose they seek, but they have made a technological breakthrough but their sample does not cease to amaze us. 

On the other hand, its applications will continue to function normally (Facebook, Messenger, Instagram ), so there will be no need to be alarmed, the digital pattern will remain in force.

What you should keep in mind is that this migration to the metaverse is going to start and you should not be left out of the car when it starts to roll.

Finally, the path of the metaverse is planned for the short to medium term; the time it takes for metaverses to be assimilated by the population will depend on the speed of technological advances.

From a commercial point of view there is widespread positive adoption by mega industries that will favor the transition.

Miguel Ángel Povedano