Early Users of Metaverse React to Facebook’s New Name

Last week, Mark Zuckerberg, head of Facebook, said it would rename its business Meta Platforms, Inc. Early users of the virtual¹ worlds known as the metaverse criticized Facebook's rebranding, or using a new company name. They say Facebook did not create the metaverse and does not have the right to take credit for the idea.

Metaverse, generally, is the idea for a new internet based on virtual spaces and virtual reality products. It has become a subject of much discussion this year. Both companies and investors³ want to be a part of the next big thing. But users have for years been spending time on these fast-growing, but little-known, virtual worlds.

Ryan Kappel is one of those users. He is an American who has held meetings in different metaverses for more than two years.

"They are essentially⁴ trying to build what many of us have been building for years, but rebrand it as their own," Kappel said.

Facebook's announcement comes as the company fights criticism from lawmakers and regulators over its market power, software operation and policing of abuses on its services.

Blockchain and virtual reality

In virtual reality, users appear as a moving image, or avatar. As the avatar "moves" around, the player meets friends and plays games. Some are based around a digital financial account called blockchain that allows users to buy and sell virtual real estate.

Artur Sychov founded a metaverse virtual world called Somnium Space in 2017. He said Zuckerberg's announcement of the rebrand felt hurried, as if the company wants to become part of the metaverse story. "Which," he said, "is happening right now."

Sychov spends up to five hours a day in Somnium Space along with 1,000 to 2,000 other daily users.

Centralized and decentralized metaverses

Dave Carr manages communications for the organization that runs the virtual world Decentraland. He said metaverse users may resist Facebook's move because they fear its control over content.

Carr compared the virtual world Decentraland with Facebook's planned metaverse. He thinks that people who want to control the future of the virtual worlds they live in, move freely between them and keep the things they make "will choose the decentralized version." He said Facebook's plan will most likely be under central control.

Decentraland was founded in 2017 with about 7,000 daily users. It sees itself as a choice for people who want to move away from popular social media platforms that sell user data and control what users can see.

Blockchain technology is the basis of many existing metaverse platforms. It makes central control impossible. Blockchain is also the electronic heart of cryptocurrencies. In these virtual worlds, people use cryptocurrencies to buy land and other digital objects in the form of non-fungible tokens⁶, or NFTs.

Pranksy is the name of an investor² in NFTs, which are digital resources such as works of art that exist only on computers.

Pranksy said that Facebook wanted to claim the name "Meta" "as soon as possible as more brands become interested." Pranksy first bought virtual world real estate in 2020.

However, the reaction from early metaverse users was not all negative. Some said Facebook's entry could raise interest in the idea of virtual worlds generally, attracting more users and causing more virtual worlds to be created.

Tristan Littlefield is the co-founder of NFT company nft42 and has been a metaverse user since 2018. He said his first reaction to Facebook's announcement was negative because he dislikes its sale of user data.

But his next thought was that having a big company like Facebook come in and spend "billions of dollars ... could be a positive" because of the new people it would bring to the space.

Words in This Story

virtual – adj. used to describe something that can be done or seen using computers or the internet instead of happening in a physical place

brand – n. a category of products that are all made by a particular company and all have a particular name

essential adj. extremely important and necessary

non-fungible token⁵ (NFT) - n. something that only exists in the digital world and is based on blockchain (see "What is an NFT?")

virtual reality – n. a set of images and sounds produced by a computer to represent a real place or situation

platform - n. n. (computers) a program or set of programs that controls the way a computer works and runs other programs

cryptocurrency - n. virtual money

1 virtual   

adj.实质上的，事实上的，实际上的

参考例句：

• This reply is a virtual acceptance of our offer.这一回答实质上是接受了我们的建议。
• At that time the East India Company was the virtual ruler of Bengal.那时东印度公司是孟加拉的实际统治者。

2 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

3 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

4 essentially   

adv.本质上，实质上，基本上

参考例句：

• Really great men are essentially modest.真正的伟人大都很谦虚。
• She is an essentially selfish person.她本质上是个自私自利的人。

5 token   

n.筹码，信物，纪念品，礼券；adj.象征性的

参考例句：

• This little gift is a token of our regard.这点礼物是我们大家的一点心意。
• Black is a token of mourning.黑色是沮丧的象征。

6 tokens   

代币( token的名词复数 )； 象征

参考例句：

• These tokens are exchangeable for DVDs only. 这些赠券只能换 DVD 盘。
• The council gives old people free tokens. 委员会发给老年人免费代金券。