What Happened To Meta A Year After The Company’s Rebranding

A year has passed since Mark Zuckerberg decided to leave social networks behind and move on to the development of the metaverse. Facebook became Meta to highlight the change in course. 

This year has been a busy one for the company. It all started in December 2021, when the proto-metaverse Horizon Worlds was presented to us. 

In April 2022, there were rumors about the creation of the Zuck Bucks digital currency for the future metaverse. Since then, nothing has been heard about it. 

In May, the company announced the creation of the Meta Pay crypto payment platform and filed five trademark applications. 

In September, Facebook and Instagram users were finally able to broadcast NFTs on their social media pages by connecting third-party crypto wallets. 

In October, Meta partnered with Microsoft to get more tech companies to work with virtual reality. 

However, this year has not been without its challenges, especially when it comes to the company’s metaverse ambitions. 

The $15 billion investment in the metaverse seemed to many a shocking and ill-advised move. Meta’s Q3 report only reinforced those fears, with the stock price down 23.6% since its publication. The company’s virtual reality division lost about $10 billion. And Zuckerberg’s meme avatar with the Eiffel Tower made me think about the quality of the metaverse he is developing. 

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