There is no doubt that “metaverse” will be remembered as one of the buzzwords of 2021. (It’s only the beginning.) Somewhere along the way, Web3 became the metaverse and even if people didn’t know what it meant, they ran with it.
Meta: The pandemic – remember that? – taught us that life changes fast. Maybe not quite as fast as Facebook’s name. One of the (reportedly) biggest supporters of the metaverse has been Mark Zuckerberg who proclaimed his intention to turn Facebook into a metaverse company and rename it to reflect the same. The rumors of a name change proved to be true. The company will officially change its name to Meta and will be “metaverse-first, not Facebook first.” Thank God.
So, what’s the meta?
It’s no secret that Facebook gets a lot of flak these days, but this shift in their strategy seems pretty damn interesting and pretty damn validating for everyone developing Web3.
In addition, NFT’s are definitely part of the plan. Vishal Shah, the company’s Head of Metaverse Products, said that this makes it easier for people to sell Limited Edition digital objects such as NFTs, display them in their digital spaces, and even resell them securely.
The metaverse is the next frontier, as Zuckerberg stated, however some relevant concerns have been raised by decentralized data provider DappRadar – that it cannot and should not be controlled by one entity.
Ultimately, we’re thrilled that the metaverse is evolving, and hope that Zuck isn’t merely escaping the “billionaires tax” by joining the metaverse.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
