What's In The Metaverse?

In October 2021, Meta, changed its name from Facebook to emphasise its intention to be at the forefront of the metaverse. That's where virtual environments are accessed through 3D interactions, and Mark Zuckerberg's business has been working on it for years.

Meta began to show a strong interest in augmented worlds in 2014 after investing $2 billion in the acquisition of Oculus, which designed the Rift VR gaming headset. Oculus is still Meta's second-biggest deal ever, after the purchase of WhatsApp. Today, Oculus technology is at the heart of the interactive exhibits that Meta aspires to create in the metaverse.

In 2019 Meta also purchased CTRL-labs, a business that has built a gadget that transmits signals from the brain to the computer. According to Bloomberg, the transaction value was somewhere between $500 million and $1 billion.