What is Metaverse- Facebook?

Hello Everyone! Welcome to learnvern.

In the last topic, we discussed Facebook 's business model where we understood how Facebook runs their business model.

Today we are going to discuss the ‘meta’, the name of the parent company of Facebook was changed to ‘meta’.

Earlier Facebook's parent company name was “Facebook” only.

Facebook was a social media platform but now Facebook changed their name to meta.

It is very important to learn why this big tech giant changed their name to meta.

It is very important for us to understand this because this is going to be a big move on the internet. Let's understand what this is.

Full name of the meta is metaverse.

What is Metaverse? The Metaverse is loosely defined as an extensive online world where people interact via digital Avatars.

It means that, in Metaverse you have your own virtual world…

Currently we are offline. Suppose I'm giving you a live lecture and you are attending it online. So, you're watching these videos online but all the videos are getting recorded offline at the same moment of time. We are shooting videos offline. It means that it is offline…

But in Metaverse, you will wear VR glasses and you can imagine everything there. Everything which we are doing offline, like playing cricket offline, talking to each other offline or learning anything offline, running, getting fitness training offline, this everything which is offline is going to be a virtual parallel world. That will be known as Metaverse..

This is the biggest revolutionary stage of the internet.

This is one further step after the Internet.

You can see here, Mark Zuckerberg has changed his Avatar. Here a person is enjoying the party from sitting in his home only.

You can see everything is virtual here.

You can see online events are happening here. people have come out to visit. Some have gone to parties.

Everything here is virtual only and running in VR.

All these shifts will happen through Metaverse only.

Now, what is the use of Metaverse?

“The Metaverse broadly refers to the idea of a shared virtual platform that people can access through the different devices and where they can move through digital environments.”

It means, as you can see here in this picture. Let's say, this person is you, imagine this for now…

If you are a girl, then this girl is you. If you're a boy, then this boy is you.

Now suppose, two genders are sitting here.

You are at your home only, but you are imagining this whole virtual world from your home only.

Let's say this is a VR glass. I wear this glass like this and imaging everything on virtual from sitting here.

Let's say I'm going to the US, or I am running.

Now You can say Maharashtra is a state but you can convert it in virtual and you can purchase this whole state. 

You can go anywhere in that state.

It sounds very different. This might sound crazy. But yes this is possible. How this will happen, I will give you a little bit of an idea about that.

As you can see here, this is a virtual parallel world.

Like this, this is a digital Avatar of Mark Zuckerberg and he is sitting at his home only. But he is giving education from there in a university or attending any meeting.

Now how this will work I'll tell you about that.

See, what happened!! If I talk about 1998, when dot com started in 1998 and Jackma, jeff bezos , SpaceX, elon musk, all these new startups started in those years.

It was the start of “dot com. “

If we were at that time and we have little knowledge of the internet. And if we told anyone that your business may come online. We can shift that on .com and someone will purchase from there online. So at that time, it might sound crazy. And people might think that it is not possible.

Now, we are at the same stage in 2021. Now we are talking about Metaverse. Metaverse is not going to develop instantly.

It is going to take a minimum of 5 to 10 years to fully develop. Mark Zuckerberg has also mentioned this. This whole thing's going to change in the future.

Now we'll talk here, while Facebook changed his name to Meta?

Now you talk about Facebook vision, it has totally changed.

Facebook is rebranding themselves. They are changing their brand. Their Vision and mission is going to be changed.

“its reach beyond social media into areas like virtual reality.” It means, till now we understand that Facebook is a social media platform. This is a simple social marketing site.

But Facebook has become a social media tech company. it is getting entered into a blog chain. VR means Virtual reality.

Suppose we are talking and let's say someone is sitting with me, that’s a reality. And that is going to be wholly virtual. That’s an offline world and we will take that world online. That is very visionary and we are talking about the future.

“Due to criticisms from lawmakers and data privacy.”

You have also seen that Facebook was in the news a lot because of data privacy matters. They were accused of data leaking. And Facebook’s name was very much destroyed. 

For Facebook, rebranding was very important.

“For Facebook, the “Rebranding” isn’t just about a switch in the company name but a reflection of the company’s growing ambitions and focus on a new area.”

It means that their focus was not only to change their name rather they also wanted to explore new areas.

Just like Alphabet and google. Here it is shown that Alphabet is a parent company of Google, similarly Facebook, whatsapp and Instagram will have a parent company and whose name will be meta.

There are too many reasons for changing the name of Facebook to meta.

When this news came out, lots of people checked their application, whether Facebook had changed their name on application.

Facebook names remain the same on the application. Their parent company name is meta.

What exactly is Metaverse? I tried to explain that in a very simple word here.

“Simple way to understand is: Parallel virtual world where users can have different identities and characters.” Means you will have your digital Avatar.

Just like Vicky Lalwani is my name. I am talking to you offline. I am talking to you online, but I am recording that video offline.

Offline means I am not in any virtual world but I am still offline. But in the virtual world, they will make my digital Avatar. I can roam anywhere in the digital world with the help of Avatar.

Facebook has a vision that users can learn anything, play anything. In the event they also mentioned that users can play, talk or work as well.

Like nowadays work from home is going on. Lots of companies are opening up but still you are spending lots of time in transportation and commuting.

But in virtual, you don’t need to go anywhere, you can do that from home. It will work virtually.

You can feel the company by sitting at home only. You will feel like you are working in an office and their employee will also work with me.

That’s everything is going to be digital.

Now what is this? This is a big thing.

“Post internet world, decentralized computing system.”

This “Metaverse” is the next stage after the internet. This everything will be decentralized. Like the decentralized currencies.

You read about NFT. NFT means non-fungible token. Now what is the meaning of Non-fungible tokens.

You create an art and you upload that art on blockchain and the moment you upload that on blockchain, one token is generated. That is called NFT.

It is a little bit tough, I know that. I will explain to you in an easy way.

Now, you understand that this is a key. I created a design of this key and I uploaded this design on the marketplace. Once I uploaded it to the market place now anyone can purchase it from there.

 This is simple, I hope you have understood this.

This is a key, I created a design, I added it to the marketplace and anybody can come to the marketplace and purchase it. simple!

But I will make this more technical. The design which I created is going to be very unique. This is not going to be repeated.

Like Mona Lisa Painting. That is the only one in the whole world. You can copy that painting but there is only one final one.

Similarly, that design is unique and any one can copy this but their owner will be only one. And that will be uploaded on blockchain.

Anyone can purchase from that blockchain.

This is a little bit technical. But you can read this on Google.

But this NFT connects to Facebook.

We have to understand “why Facebook is changing” and what Metaverse is. What future is going to be for Facebook? Because we are doing the course of Facebook marketing.

This whole work will be decentralized. Transactions will be through crypto currencies only.

This is going to be an entirely digital economy. I can guarantee that.

you will be able to see it in Upcoming future.

Facebook also mentioned that we are working that much on Meta world, it is going to be a post internet world.

There, only we will not work, along with Facebook lots of other companies will participate. And that is going to change along with that.

We have to understand how this whole thing is shifting to web 3 point O. (alphabet o) . 

If you don’t know about web 3 point o then let me tell you that.

When there was web 1.0 at that time text was introduced. Like HTML. (alphabet o)...

web 2.O was like where photos and videos were there. You can see photos and videos of anyone. (alphabet o)

Now web3.0 is totally virtual. Totally new change is going to come in web 3.O

I will suggest that you watch the interviews of Gary Vee and Mark Zuckerberg on Youtube. You will get a good understanding from there as well.

If this is too technical for you, don’t worry. It's ok. But you have to understand Metaverse. This will help you in Facebook marketing. That will help in future.

And I also want you to tell me that no one includes this topic in the course of Facebook marketing. But on learnvern they include that as well, so that you can see the future as well and what changes are going to come in future and how it will be helpful for you.

Meanwhile, If you have any queries or comments, click the discussion button below the video and post there. This way, you will be able to connect to fellow learners and discuss the course. Also, Our Team will try to solve your query.

Let's come back to Facebook.

We will learn about the Facebook dashboard in the next topic.

Thank you so much guys. We will meet in next lecture with new topic i.e. Facebook Dashboard.