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Facebook goes Meta

Facebook goes Meta

Facebook officially changed the name of the company to Meta. The last page of the chapter that Mark Zuckerberg started writing when he said Facebook would become a “metaverse first” company. The first line of a new chapter where Facebook/Meta will invest $10B in developing the new digital world.

First, the facts: Facebook, the company, not the app, changes its name to Meta and now has this squiggly blue M as a logo. They want to move from being linked to a social media product to being perceived as a metaverse builder.

Then the concept: the metaverse is a broad, blurry concept that is being defined as we speak. Below there’s a great way to frame it:

The metaverse is a moment, not a place. 🤯

Our lives have been going digital for 20 years already, and this has just been the beginning. Social lives, very digital. Work, made more digital by a virus. Leisure, education, get it.

Finally, the debate: crypto has been developing the building blocks for some of the most essential facets of the digitalization of life: identity (who we are online), ownership (how do we possess and trade digital assets), or finance (how do we exchange value). And they’ve been doing so in a decentralized manner, precisely to avoid the extractive mannerisms of corporate giants like Facebook, who have built platforms where users create value without receiving the rewards proportionally.

Who will win the race?