It’s been a year since Facebook changed its name to Meta; Zuckerberg’s achievements since entering the Metaverse

More than a year has passed since Facebook, the giant of technology and social networks, changed its name to Meta at the “Facebook Connect” conference on October 28, 2021 (6 Aban 1400). However, despite the company’s relatively poor financial performance, Facebook founder Mark Zuckerberg seems to want to keep dreaming of the metaverse.

To Report According to Cointelegraph, the change reflected the company’s growing ambitions to move beyond an old social network and enter the world of Web 3.0, cryptocurrencies, the metaverse and non-physical tokens (NFTs); A virtual world where customers are likely to spend more time working and playing.

In December 2021 (Azer 1400), Meta unveiled its Horizon Worlds virtual reality social network project as it paves the way for more cryptocurrency advertising on Facebook.

In April 2022, reports surfaced that the company was considering a digital currency tentatively named Zuck Bucks designed for use in the Metaverse. Of course, since then, no new information has been released about the progress of this project.

In May, the company filed for five trademarks for a payment processing platform with support for digital currencies and assets called Meta Pay.

In September 2022, the company announced that its 2.9 billion users could share their digital collections and NFTs on Facebook and Instagram in 100 countries by connecting their wallets.

Meanwhile, on October 11, Meta announced its cooperation with one of the giants in the field of technology, namely Microsoft, to offer a wide range of Microsoft Office 365 products on Meta’s virtual reality (VR) platform. The purpose of this cooperation has been to encourage other companies to work in virtual environments.

Read more: Giants Project; Microsoft and Meta collaborate on Metaverse

However, the past year has not been without its challenges for Meta; Especially when it comes to the ambitions of the company’s Metaverse project.

Last week, Altimeter Capital’s CEO and founder called Meta’s $10-15 billion annual investment in Metaverse as excessive and scary.

Meta’s Q3 performance report only seems to reinforce these concerns; So that the share price of this company decreased by 23.6% after the publication of the report. Meanwhile, Reality Labs, Meta’s virtual reality research and development arm, has recorded a cumulative loss of $9.44 billion since the beginning of the year.

Many may remember the catastrophic failure of the Meta Eiffel Tower project. When an image of Meta CEO Mark Zuckerberg’s avatar standing in front of a virtual version of the Eiffel Tower was mocked for its poor visuals.

Also read: What is Metaverse? All about living in the digital world

Meanwhile, a Wall Street Journal report on October 15 revealed that the company has more than halved its monthly active user target for Horizon Worlds. This shows that the company’s flagship Metaverse project is declining.

During the presentation of the company’s third quarter financial results report on October 26 (November 4), Zuckerberg reacted to the negative reflection of this news and said:

We are trial and error and the Metaverse social platform is still an early version.

Meta CEO added:

This is a live (running) early product development platform and will evolve rapidly; But it obviously has a long way to go before it becomes what we aspire to be.

Nevertheless, the tech giant continues to advance its goals in Web 3.0 and other projects, including artificial intelligence.

Zuckerberg said during the presentation of the company’s financial results report:

With these investments, we are on the right track and the company should continue to invest more in these areas.

This company unveiled its newest virtual reality headset called “Meta Quest Pro” on October 11 (19 October) during a virtual event. It was during this event that Meta announced its partnership with Microsoft and unveiled the new reality labs computer platform.

Zuckerberg said:

Working in the Metaverse is a big deal for Quest Pro. 200 million people buy new personal computers every year, mainly to work on them. Our goal for Quest Pro in the next few years is to enable more of these people to work in virtual reality and mixed reality, and eventually even [به نقطه‌ای برسیم] Which is a better experience than what they can do on their computers.

He added:

Our AI exploration engine, our commercial messaging and advertising platforms, and our future vision for the Metaverse are three areas we are very focused on.