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"And we've done that with Facebook and Instagram. WhatsApp is really going to be the next chapter, with business messaging and commerce being a big thing there." Perhaps the Metaverse can serve as another alternative to showing up to a business meeting in your pajamas. Hopefully, you have fast internet access though, I can already picture viral videos of people’s avatars "lagging" out during an important business meeting. Where users can interact, engage, and socialize with one another in a 3D space. Bringing the "full" metaverse to life will be a major challenge in terms of market demand and technology.

Smartphones are handheld devices that enable people to make phone calls, send text messages, and access the internet. The investment Meta is making in global research and Create a metaverse program partners to build the metaverse in a responsible way. Then rumors began swirling in mid-October 2021 about a Facebook rebrand—complete with a new name—to embrace the company’s commitment to the metaverse. In July 2021, Mark Zuckerberg talked with journalist Casey Newton about the metaverse and the changes he envisioned for Facebook.

The third part is NVIDIA CloudXR, which includes client and server software for streaming extended reality content from OpenVR applications to Android and Windows devices, allowing users to portal into and out of Omniverse. The metaverse is a shared virtual 3D world, or worlds, that are interactive, immersive, and collaborative. The best programmers and creators — not the platforms — need full control to be fully innovative. When codebases, algorithms, marketplaces, and protocols are transparent public goods, builders can pursue the fullness of their visions and ambitions to build more sophisticated, trustable experiences. Something of a cross between a game, a marketing channel, and an experiment in creating a digital, decentralized democracy, Decentraland is a true web3 platform. It’s governed by a Decentralized Autonomous Organization and is an online home to some of the world’s biggest superstars and brands, including Morgan Stanley, Coca-Cola, Adidas, Samsung, and Snoop Dogg.

The second reason businesses change their name is to get away from bad publicity and reframe their corporate image and positioning in the minds of the public/their target audience. In the case of Facebook, the company now owns other companies such as Instagram, Facebook, Whatsapp, and Oculus. In order to accommodate the change in their business model and offerings, a proper name change was needed. You may be wondering what is the difference between a metaverse and a multiverse.

This started out as a mobile game, which in 2018 was ported by its creators to the Ethereum blockchain, becoming one of the first truly decentralized metaverse platforms. It includes its own object creation tools that allow anyone to build 3D items, characters, vehicles, or anything else they can think of, which are then minted as NFTs, and can be imported into other Sandbox worlds. These NFTs can also be traded and sold via the platform’s built-in marketplace. Assets and land are created as NFTs, and like Decentraland, transactions are carried out in the platform’s own currency, known as SAND. Sandbox is another platform that has proven popular with brands wanting to establish their metaverse presence – landowners include HSBC, Warner Music, PwC, and Paris Hilton. When Facebook founder Mark Zuckerberg renamed his company to Meta, it was a sign of how important he felt the metaverse concept would be to the future of digital communications, socializing, and living.