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  • MaryGrace Lerin

Meta Changes its Stock Symbol Following its Metaverse Transition

After decades since it went public, the name Facebook will now completely be rebranded to Meta. The company has confirmed that starting June 9th, it will change its stock exchange name from 'FB' to 'META.'

According to Meta:

“Meta Platforms, Inc. (Nasdaq: FB) today announced that its Class A common stock will begin trading on NASDAQ under the ticker symbol ‘META’ prior to market open on June 9, 2022. This will replace the company’s current ticker symbol ‘FB’, which has been used since its initial public offering in 2012. The new ticker symbol aligns with the company’s rebranding from Facebook to Meta, announced on October 28, 2021.”

The move requires no action from the company's shareholders, and the company's stock will remain to be listed on NASDAQ in the same way it is now, except for the ticker update.

To be specific, there'll be no changes other than FB becoming META, which is the last step in its metaverse-aligned transition before moving on to the next phase of development.

Meta also mentions this in the concluding section of its press release:

“When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.”

Even now, the metaverse remains a hazy idea, with many procedures necessary to support a completely open, interactive set of digital realms, allowing consumers to move their digital purchases from platform to platform and space to space, thereby establishing the fully interactive virtual world that Meta CEO Mark Zuckerberg hopes to achieve.

Matter of fact, although it will cost him and his company several billions of dollars before it begins to yield profits in any major way, Zuck remains optimistic about the next stage's potential.

According to Protocol, Zuckerberg recently stated:

“I want to live in a world where big companies use their resources to take big shots. Obviously, if people invest in our company, we want to be profitable for them. If employees join our company, I want to make sure that ends up being a good financial decision for them, too. But I also feel a responsibility to go for it. Use the position that we’re in to make some bets, and try to push forward in a way that other people might not.”

There are several potential dangers in this strategy, particularly in going all-in so soon, but the eventual goal of fully interactive digital worlds appears to be the future, especially when one considers that children are now growing up participating in such places through games like Fortnite, Roblox, and Minecraft.

The pandemic has hastened this shift, as children are forced to discover new methods to connect and interact with their peers in the face of continual lockdowns and school closures. This has created new habitual behaviors, and in ten years, these users will be completely habituated to engaging in this manner, triggering the true metaverse shift that Zuck and Co. are predicting.

This appears to be the most likely outcome. But we're not there yet, and the liminal space between the future and the present will cause considerable disquiet and confusion about what the metaverse involves.

As with any technology development, this will lead to profiteering, and you can already see consultants and advisory firms trying to instill panic in huge organizations that they will miss the metaverse boat and lose out to their competitors. A significant amount of money is already being exchanged in this regard – but the metaverse in its fully interconnected, cross-communicative, fully interactive condition is not yet available in any form, and substantial consensus among the major providers to develop for the next phase will be required before any serious movements can be taken.

There are clues of what's to come, certainly. However, much time, effort, and money will be squandered in the hurry to remain at the forefront of the next wave, while the most important building foundations have yet to be placed in position.

To put it another way, you don't have to believe the hype just yet, but it's worth noting recent movements and contemplating future potential, with digital goods, specifically, poised to become a revolutionary factor in the new market change.

This will be significant after 2030, and you can plan for it in your roadmap, but this will require time. Investing in your tech stack seems necessary, but for smaller organizations, going all-in like Zuck and Co. may entail too many dangers.

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