The world’s largest social network, Facebook, has changed its name to Meta, short for metaverse. Naturally, this move is shining a spotlight on the metaverse industry, or the field of virtual worlds. While this concept has more recently become a viral phenomenon, it’s not a new idea at all. The metaverse began as a science-fiction concept that was first introduced in the 1990s by sci-fi writer Neal Stephenson in his famous book, Snow Crash. Stephenson imagined networks of virtual worlds where people could experience all the benefits of modern technology—without the hassles of physical travel. But it wasn’t until Facebook’s purchase of Oculus that virtual reality (VR) became somewhat mainstream. Achieving true immersion with VR is still an arduous task, but Facebook is making steady progress toward its goal of having a viable business selling VR headsets to the masses. Innovate or Die Since Facebook’s acquisition of Oculus and re-branding to Meta, the metaverse has become more than just a sci-fi concept. It’s fast becoming a new playing field for businesses. In other words, businesses can no longer ignore the metaverse industry; they need to innovate or get left behind. What innovative businesses have in common is that they understand the power of social media to influence consumers. And what better way to interact with someone than through a virtual world? Since most people spend more time o...
