Did you hear? last week facebook said they will change thier corporate name.
Corporations sometimes change thier names because of brand confusion.
Brand confusion means consumers mistake a product for a rivals offering, allowing competitors to unfairly gain market share from a brand they didn’t create.
This, isn’t that.
Facebooks rivals
Rivals like tiktok, twitter or BSocial do really similar things as facebook, but are they really mistakeable for facebook?
Can you imagine someone searching Google or the app store for twitter and accidently signing up to facebook?
Facebook has always had a unique, leading identity, its an individual titan of the history of social network industry. Therefore overlapping characteristics shared by all other social platforms don’t effect its brand identity.
Its particular brand identity is unique because people know SM platforms do the same thing, yet they are different platforms, with different rules, profiles and user experience.
Loads of people who use facebook every single day, don’t know how twitter works.
There’s two reasons why facebook is changing its name.
The first is to soley evolve its brand identity, (think changing history/its hand in politics/community image).
The second reason why facebook is changing it name is because doing so aligns with its recent employment of over 10,000 digital professionals to enter one particular space you may of heard of.
The metaverse.
Why is facebook changing names with metaverse integration?
Serving a market springs to mind. In recent years NFT’s and blockchain technology have launched oldschool finance, gaming and community into a metaverse of defi and elevated consciousness.
The metaverse is not what you think.
Facebook has had huge interest in gaming since launching its free live stream gaming service in 2018.
This was in response to its competitors like twitch capturing 1M users of facebooks 2018 target audience.
Twitch active users count 2.7M as of today thanks to specifically targeting gaming streamers and thier fans.
What’s twitch got to do with NFTs and Blockchain?
Nothing persai, they don’t offer any cryptographic services. Oldschool web 2.0 all the way.
Similar companies like steam are the same, they even kicked NFT games this month. All blockchain games, even rust have been removed from the platform.
They tweeted “kickcing all blockchain games because NFT games have value.”
Smh.
The top 13 NFT games alone saw 3.5M users in the last 30 days.
That’s not one platform, with 10,000s of games, like steam, or twitch.
That’s just the top 13 NFT games capturing a very much wow piece of the overall gaming industry market pie-chart.
Why is facebook changing names with metaverse integration?
A year or two ago I signed up to facebook gaming streaming service.
It was easy to use, everything worked, the connection was good and the games were familiar.
The games were familiar
You wana know something?
You guessed it, even for me it’s kinda rare to hear people who can converse comfortably about NFT’s and the technology as though they are familiar with it.
That is changing through 2021.
Facebook might just be changing names with metaverse integration because it’s users are already creating a market.
Play to Earn
Play to earn – that new economy everybody is hyped about – with freelance gamers being rewarded with transferable value.
Facebook users are searching for it more and more, making groups and fan pages to chat and learn about metaverse.
Business is business and Facebook is in business.
Meta or Metaverse as a name
The motivations behind why people use the platforms they use are real. Since cryptography has evolved to be a growing part of global culture, naturally those not familiar with the metaverse are easily educated by platforms like facebook.
Lots of people choose to support genuine, authentic communities, many do this through facebook. Meta & Metaverse as a name has been in use for some time outside of facebook by this much smaller community project and lots more..
Lionheart.tez 