What is Facebook’s Metaverse? - Explained

CEO Mark Zuckerberg announced that Facebook's new name is 'Meta' to showcase the company's growing focus on Metaverse. Know what is Metaverse for which Facebook is hiring 10,000 people in the European Union (EU) over the next five years?

Facebook new name Meta, Source: AP
Facebook new name Meta, Source: AP

CEO Mark Zuckerberg announced that Facebook's new name is 'Meta'. Zuckerberg made the announcement of the name change of Facebook on October 28, 2021, during an annual Connect conference.  The decision to rename Facebook to Meta is to showcase the company's growing focus on Metaverse. In a similar feat, Google in 2015 had created Alphabet Inc as a holding company to house its various ventures and establish itself as more than a search and advertising business.

Facebook on October 18, 2021, had also announced its plan to hire 10,000 people in the European Union over the next five years to build the Metaverse, a virtual reality version of the internet. Facebook CEO Mark Zuckerberg has been mentioning Metaverse since July 2021. The tech giant is looking forward work with governments across Europe to hire the right people and find the right markets across the region.

Also read: Facebook changes name to Meta in major rebrand effort, says Mark Zuckerberg

What is Metaverse?

Facebook defines Metaverse as a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you. With Metaverse, people can experience the internet in 3D. This means one can meet, play, work or join places as if they were actually experiencing it rather than just viewing it as content.

Facebook will use technologies such as Augmented Reality (AR) and Virtual Reality (VR) to create a sense of virtual presence that will enable one to experience the event as if interacting in person. With this technology, Facebook aims to connect its 3 billion users through Metaverse.

The metaverse has the potential to help unlock new creative, social, and economic opportunities.

Who will run Metaverse?

No one company will run the Metaverse. The key features of Metaverse will be openness and interoperability. As per Facebook, different companies will collaborate, cooperate with each other, creators, developers, and policymakers to build and operate the Metaverse.   

When will Metaverse be available?

As per the Facebook official blog, the company is in the beginning stages of building the next computing platform Metaverse. It could take 10 to 15 years to be fully developed. As of now, Facebook has announced its plan to hire 10,000 people in Europe over the next five years for building the Metaverse.

Facebook has also announced the XR Program and Research Fund, a 2-year $50 million investment in research to help build the Metaverse. The Fund will set the stage for collaboration between industry partners, governments, civil rights groups, and academic institutions to explore the development of technologies.

How will Metaverse work?

As per Facebook, one will be able to access the Metaverse through AR, VR, PC, mobile devices, and game consoles.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप


Take Free Online UPSC Prelims 2022 Mock Test

Start Now
Read the latest Current Affairs updates and download the Monthly Current Affairs PDF for UPSC, SSC, Banking and all Govt & State level Competitive exams here.
Jagran Play
खेलें हर किस्म के रोमांच से भरपूर गेम्स सिर्फ़ जागरण प्ले पर
Jagran PlayJagran PlayJagran PlayJagran Play

Monthly Current Affairs PDF

  • Current Affairs PDF May 2023
  • Current Affairs PDF April 2023
  • Current Affairs PDF March 2023
  • Current Affairs PDF February 2023
  • Current Affairs PDF January 2023
  • Current Affairs PDF December 2022
View all

Monthly Current Affairs Quiz PDF

  • Current Affairs Quiz PDF May 2023
  • Current Affairs Quiz PDF April 2023
  • Current Affairs Quiz PDF March 2023
  • Current Affairs Quiz PDF February 2023
  • Current Affairs Quiz PDF January 2023
  • Current Affairs Quiz PDF December 2022
View all