Mark Zuckerberg Unveils Demo Video for the ‘Metaverse’ — Facebook’s Plan to Keep People at Home

 

Mark Zuckerberg

Facebook CEO Mark Zuckerberg on Thursday unveiled a demonstration video for the so-called “metaverse,” and said his company would rebrand as Meta to reflect the concept.

The metaverse — which is based on the concept of using Facebook’s Oculus headset to engage in day-to-day activities, eliminating the need to leave home in the future — would be about “connecting with people,” Zuckerberg told viewers of the video, which was released as part of Facebook’s annual developer event.

“Imagine if you put on your glasses or headset, and you’re instantly in your home space,” Zuckerberg said as he stood in a virtual setting with a tropical background. “It has an incredibly inspiring view of what you find most beautiful.”

Interjecting, a woman asked Zuckerberg through his virtual watch, “Are you coming?” To which Zuckerberg replied, “Just have to find something to wear!” as stared at his avatar’s changing costumes.

Bank of America on Tuesday said it predicted the metaverse “has a reasonable chance of mass-market adoption with Facebook’s strong backing.” However, it added, “Long-term holders will need to have a strong belief in Facebook’s vision for the metaverse business model to want to hold the stock.”

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