What's in a name? Quite a metaverse is what you might believe when you see the rumor about the recent transformation of Facebook (NASDAQ: FB) into Meta. In reality, the new name is much more than that: there is also the whistleblower scandal, along with previous controversies that tarnish the image of the company, as well as the invasion of rival social media platforms that are more popular with the youths.
But, if the Facebook makeover is easy for skeptics to dismiss as a PR stunt, the same is not true of the metaverse, simply because getting into it requires more than just a public announcement. In addition to Facebook's intention to invest $ 10 billion in metaverse-related projects this year, Microsoft (NASDAQ: MSFT) is building its own metaverse and rolling out 3D avatars for teams. In early April, Epic Games, the gaming giant behind teen favorite Fortnite, raised $ 1 billion for its metaverse efforts.
Many great players are revving their engines to race towards the metaverse, and money tends to make things happen.
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