The Metaverse Race is On
05 Nov 2021
Facebook’s latest announcement last week surely created a buzz around the world. Metaverse, a combination of the Greek word meta (meaning ‘after’ or ‘beyond’), and universe, is one of the latest trends that people are talking about. It is something that has been going on for quite some time though; the most popular example is Second Life, a game launched in 2003 in which you can experience an immense virtual world together with others, or alone. You can meet people, make friends, play sports, start a business, buy, or rent land, marry the love of your life, shoot with guns, join discussion groups and much more. Everything is real but in a virtual world.
New technology has led us to Virtual Reality glasses to explore new worlds and shared experiences, and Augmented Reality enhances the same experiences. Non-Fungible Token (NFT) in the cryptocurrency world lets you buy and sell, store, and show your personal library of digital artwork. Think of it as owning something truly unique, like a ticket to prove the original Mona Lisa. No one can take that away from you, and you can show it to the world without losing the rights to it.
Facebook Inc., now known as Meta Platforms, Inc., is taking a step toward this inevitable future – “Connection is evolving and so are we.” The name change reflects that they are committed to this change. So, as naming specialists, we had to weigh in on this.
“Meta is a rather expected choice of name and not very innovative, yet it could work in the given context,” says Kristina Björnerstedt, Managing Partner of Skriptor Zigila. She continues “However, describing a product or service could sometimes lead to popular trademarks or brand names turning into a generic term. Depending on where you live, we have seen it with Google, Uber, Voi, and Aspirin.“
It will be very interesting to see how this rebranding goes and we look forward to following the metaverse race, as we are expecting more companies to join in.
If you find yourself in doubt regarding naming questions, contact us.
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