Facebook becomes Meta- What is next?

Facebook becomes Meta- What is next?

Facebook recently announced at the company’s Connect event that it has changed its name to Meta. Many people may be a little curious about the word Meta, which means beyond in Latin. As CEO Mark Zuckerberg said in a letter published to accompany the event, “I used to study Classics, and the word “meta” comes from the Greek word meaning “beyond”. For me, it symbolizes that there is always more to build, and there is always a next chapter to the story.”

 

At the same time, Facebook announced that it would soon change its NASDAQ stock ticker symbol from FB to MVSE starting on December 1. As reported in The Verge, which first interviewed Zuckerberg in July, the change in name is in part motivated by a strategic shift from being known primarily as a social media company to focus the metaverse plans. This is reflected in the reporting of financial results, rather than the company’s structure, splitting between apps and metaverse related products.

 

Facebook is not just changing its name. “All of our products, including our apps, now share a new vision: to help bring the metaverse to life. And now we have a name that reflects the breadth of what we do,” confirmed Zuckerberg.

 

But is that the full story behind the shift? Indeed, there’s speculation that a primary goal may be to make its crypto wallet Novi a game-changer. Currently, Novi is pitched as simply a “digital wallet that helps people send and receive money internationally — instantly, securely, and with no fees”.

 

But if the plan works, Novi may become the digital interface for all encrypted assets, from cryptocurrencies to NFTs, in the metaverse that Meta is planning to create.

 

Why did Facebook change its name?

 

Zuckerberg admitted that Facebook as a brand was stuck in the past being regarded as a social media company. Put simply, the renamed Meta now represents more than a re-skinned Facebook concept.

 

“Right now our brand is so tightly linked to one product that it can’t possibly represent everything we’re doing today, let alone in the future. Over time, I hope we are seen as a metaverse company, and I want to anchor our work and our identity on what we’re building towards,” says Zuckerberg.

 

Now Facebook is just one of Meta’s suite of products:

 

WhatsApp – messaging app

Oculus VR — virtual reality (VR)

Onavo — mobile network analytics

Beluga — messenger service

Instagram — photo and video-sharing app

 

What role will the Novi wallet play?

 

Whether Meta’s goal is to become the backbone of the crypto field or replicate the success of crypto-asset exchanges, Meta hopes to join the crypto field based on Zuckerberg’s remarks. Facebook recently announced a pilot project in collaboration with Coinbase and Paxos. They enticed users to try it by promoting Facebook’s digital wallet, Novi, to users in the US and Guatemala shortly before the name change announcement in October. The aim is to allow the business to “evaluate the wallet’s core functions and showcase operational capabilities, specifically those around customer service and compliance. Novi is also being designed for interoperability with other digital wallets,” according to a report in Cointelegraph.

 

As early as 2019, Facebook attempted to enter the crypto field by launching its own token Libra, but it ultimately failed. Finally, under the combined pressure of the US Central Bank and policymakers, the token was forced to cancel. Libra was later tweaked, relaunched, and renamed Diem. The spokesperson stated that the company has not abandoned support for the Diem network, a permissionless payment system that is still awaiting the green light from Washington. “We intend to launch Novi with Diem once it receives regulatory approval and goes live,” the spokesperson told Cointelegraph.

 

It may be surprising that the Novi project has been heavily criticized by some US senators who oppose Facebook’s relaunch of cryptocurrency and digital wallets. But the response from Diem, the associated stablecoin project, shows how challenging these organizational changes maybe for regulators and lawmakers. In response to the letter calling on Facebook to halt its stablecoin and crypto wallet projects, Diem stated that it “Diem is not Facebook. We are an independent organization, and Facebook’s Novi is just one of more than two dozen members of the Diem Association. Novi’s pilot with Paxos is unrelated to Diem.”

 

Despite the senators’ criticism, the Novi encrypted wallet project has certainly not given up. It will likely play an essential role in Meta’s future crypto provision. According to relevant information, as Facebook becomes Meta, its payment and financial services and Novi are being integrated. Meta plans to unify all payment methods and financial services under the Novi brand in the future, with significant implications for its metaverse business offering in the future. In a recent report UK-based blockchain VC Outlier Ventures confirmed the need for the metaverse to have a crypto decentralized core, with its own payment system as key: “The defining characteristic of a true Metaverse is that it needs its own economy and currencies native to it, where value can be earnt, spent, lent, borrowed or invested interchangeably in both a physical or virtual sense and most importantly without the need for a government.”

 

Crypto, NFTs and the Metaverse

 

Vishal Shah, Facebook’s head of metaverse products, said the aim was to enable “as many creators as possible to build a business in the metaverse.” Shah underlined the importance of the diversity of creators in the metaverse: “Creators who make digital objects, creators who offer services and experiences and those who build entire worlds like game creators do today.” In turn, the diversity of creators will be reflected in the diversity of business. And in underlining this point about “new types of ownership models,” he pointed out the role of NFTs, with the new Meta platform making it easier “to sell limited education digital objects like NFTs, display them in their digital spaces and even resell them to the next person securely”.

 

Crypto experts such as Anndy Lian, Chairman of BigONE Exchange commented earlier last week on Twitter too: “#Meta means beyond in Greek. Are you ready for it’s future? I am.” Ben Armstrong ALA Bitboy is also bullish on metaverse projects too. He mentioned this on his Tweet too: “Are you bullish on #metaverse projects? These are gaining more and more traction.”

 

All in all, I have to say this- Metaverse is the future.

 

 

 

Original Source: https://hackernoon.com/facebook-becomes-meta-what-is-next

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Will Facebook’s Mark Zuckerberg Kill or Save Bitcoin (The Goat)? Anndy Lian thinks “We might really see a pro-longed bull run.”

Will Facebook’s Mark Zuckerberg Kill or Save Bitcoin (The Goat)? Anndy Lian thinks “We might really see a pro-longed bull run.”

Thanks for capturing my comments on Twitter. Personally, I think this post from Mark Zuckerberg, CEO of Facebook is a hint to us that he is open to having bitcoin on the balance sheet. As for ditching his stocks, well that would not happen. If he joins Twitter, Square, PayPal, Tesla and all in accumulating bitcoins with his $20 billion of cash, we might really see a pro-longed bull run.

 

Will Facebook’s Mark Zuckerberg Kill or Save Bitcoin (The Goat)?

Perhaps tired of the likes of Elon Musk and Mark Cuban dominating the crypto press, Facebook supremo Mark Zuckerberg has emerged from the shadows with a headline-grabbing move of his own – naming his new pet goat after the world’s biggest cryptoasset: bitcoin (BTC).

Bitcoin the Goat has become the talk of the net after Zuckerberg posted a photo of the animal frolicking in what appeared to be a hay-lined barn, with a playmate named Max, on his Facebook page.

Will Facebook's Mark Zuckerberg Kill or Save Bitcoin (The Goat)? 102
Source: facebook.com

The BTC community has been debating the significance of the goat and its moniker. On Twitter, Madelon Vos, a Dutch columnist and bitcoiner, indulged in some wordplay, quipping that the secret message behind the naming was that Bitcoin Max(imalists) are GOATs (greatest of all time). In fact, a number of other Bitcoin fans also very similar puns – a welcome distraction, perhaps, to the token’s somewhat erratic slide below the USD 55,000 mark in recent hours.

Crypto advisor and investor Anndy Lian was another to jump on the Bitcoin Maxi joke bandwagon, but also asked if the choice of name indicated that Zuckerberg was prepared to abandon stock investment in favor of a crypto portfolio.

Another crypto enthusiast, the CEO and co-founder of CoinCorner Danny Scott, asked if Zukerberg’s Bitcoin love meant that he had fallen out of love with Libra, his firm’s stablecoin project now known as Diem.

Among the mirth and excitement, a few sober souls clamored to make themselves heard. Bitcoin trader and crypto tweeter @BitBitCrypto appealed for reason, writing:

“Zuckerberg knows about bitcoin and it’s not on Facebook’s balance sheet yet. Instead, he named his goat Bitcoin. Guys? I’m not sure this is a market buy signal.”

But such voices of reason were not to be given much airtime today, with Francis Pouliot, the CEO and Founder of Bull Bitcoin, replying jestfully:

“Why would [Zuckerberg] want to put it on Facebook’s balance sheet instead of suppressing the price long enough to stash up like an emperor?”

The timing of Zuckerberg’s post suggests that he may have been paying close attention to Cryptonews.com, which late last month outlined three compelling reasons why his firm should take up a position in bitcoin.

But there was a macabre twist to all this goat-themed fun – as posters with good memories recalled the bizarre tale of how Zuckerberg once killed a goat he owned…and then served it up to the Twitter boss Jack Dorsey.

Back in 2019, Rolling Stone carried an interview with Dorsey, where the latter explained that Zuckerberg had killed a goat that he had raised “probably with a stun gun and a knife,” before sending it to be butchered.

“Evidently in Palo Alto, there’s a rule or regulation that you can have six livestock on any lot of land, so he had six goats at the time,” Dorsey was quoted as saying.

The meat from the slain goat was then put in the oven, but didn’t quite come out as planned.

Dorsey continued:

“We go in the dining room. He puts the goat down. It was cold. That was memorable. I don’t know if it went back in the oven. I just ate my salad.”

Will Zuck kill Bitcoin? Will he eat it for lunch? Or will Bitcoin The Cryptocurrency appear on the balance sheet of Facebook? Stay tuned to Cryptonews.com to find out!

 

Original Source: https://cryptonews.com/news/will-facebook-s-mark-zuckerberg-kill-or-save-bitcoin-the-goa-10252.htm

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j