The CEO of the social media platform Meta, formerly known as Facebook recently shared his expectation of vision for the rebranded platform. In 2021, Facebook was rebranded as Meta along with its other partner platforms such as Instagram. As Facebook is the parent company, only it was renamed Meta and Instagram, the visual content-based platform retained its original name.
Facebook was renamed Meta to take a metaverse approach and subtle changes are already in place to pave the way for large-scale metaverse integration. According to Zuckerberg, the company has exciting plans for the consumers and will eventually bring hundreds of billions of dollars in revenue.
“Our playbook over time has been to build services, try to serve as many people as possible,” said Zuckerberg.
Mark Zuckerberg X Meta X Metaverse
The CEO of Meta platforms, Mark Zuckerberg has been forthcoming with his plans for the venture. He explained that he expects metaverse to become a big hit even in non-crypto industries and will scale exponentially over the next decade.
He further added,”..you know, get our services to a billion, two billion, three billion people, and then we scale the monetization after that.
We hope to, basically, get to around a billion people in the metaverse doing hundreds of dollars of commerce each,” he continued, adding that people could be “buying digital goods, digital content, [or] different things to express themselves” in the metaverse.
He even explained some of the exciting products people could purchase such as “clothing for their avatar or different digital goods for their virtual home or things to decorate their virtual conference room,”
While the news in itself is exciting as it leaves the doors open for innovation, it will be a gradual progress “I still think it’s going to take a while for it to get to the scale of several hundreds of millions or even billions of people in the metaverse, just because things take some time to get there” said Zuckerberg.
Considering several big players like Microsoft have already entered the metaverse space, the future might not be as far as one might think. It’s only a matter of time until the metaverse becomes as common as the internet today.