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Information Technology Management (ITM): Metaverse

This guide lists books, websites, databases and research tips covering information technology topics

Metaverse

What Is the Metaverse?

The metaverse is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually. Augmented reality overlays visual elements, sound, and other sensory input onto real-world settings to enhance the user experience. In contrast, virtual reality is entirely virtual and enhances fictional realities. 

As the metaverse grows, it will create online spaces where user interactions are more multidimensional than current technology supports. Instead of just viewing digital content, users in the metaverse will be able to immerse themselves in a space where the digital and physical worlds converge. 


KEY TAKEAWAYS

  • The metaverse is a shared virtual environment that people access via the internet.
  • Technologies like virtual reality (VR) and augmented reality (AR) are combined in the metaverse to create a sense of "virtual presence." 
  • Facebook CEO Mark Zuckerberg believes augmented reality glasses will eventually be as widespread as smartphones. 
  • In Oct. 2021 Facebook announced plans to create 10,000 new high-skilled jobs in the European Union (EU) to help shape the metaverse.

 

Quoted from:
Folger, J. (2021, October 28). Metaverse. Investopedia. https://www.investopedia.com/metaverse-definition-5206578

Facebook (FB) Rebrands Itself as Meta

Social networking giant Facebook, Inc. (FB) has announced that, as of Oct. 28, 2021, its parent company has been renamed and rebranded as Meta. According to CEO Mark Zuckerberg, the new name is supposed to reflect the company's ambitions to be a leading player in the metaverse, which he says will be the future of the internet.

Reflecting the name change, the company has reserved the ticker symbol MVRS. It plans to start trading under this new symbol starting on Dec. 1, 2021.

 

KEY TAKEAWAYS

  • Facebook (FB) has a new corporate name, Meta.
  • The new name reflects its commitment to the metaverse, the next stage of evolution for the internet.
  • The new name also reflects the fact that the Facebook platform is just one of several that the company now owns.

 

Quoted from:
Kolakowski, M. (2021, October 28). Facebook (FB) rebrands itself as Meta. Investopedia. 
https://www.investopedia.com/facebook-fb-rebrands-itself-as-meta-5207628

Microsoft (MSFT) and the Metaverse

The announcement by Facebook, Inc. (FB)—sorry, Meta Platforms, Inc.—that it was becoming a metaverse company generated considerable attention and publicity last week. But the social media behemoth is actually the second technology giant to latch onto the concept. Microsoft Corporation (MSFT) was the first tech conglomerate to tease the idea of an alternate universe as a business opportunity earlier this year. Not many may know this, but Microsoft already has a first-mover advantage in creating metaverses and the potential to generate substantial profits from such technologies.

 

KEY TAKEAWAYS

  • The company formerly known as Facebook generated publicity with its pivot toward the metaverse, but Microsoft was the first tech behemoth to introduce the concept at its BUILD conference earlier this year.
  • Microsoft CEO Satya Nadella discussed the idea of an "enterprise metaverse" consisting of digital twins that extends the concept of remote working through virtual presence and avatars.
  • Given the breadth of its offerings, Microsoft could mint substantial profits from its product metaverses.

 

Quoted from:
Sharma, R. (2021, November 1). Microsoft (MSFT) and the Metaverse. Investopedia. 
https://www.investopedia.com/microsoft-msft-and-the-metaverse-5208039

Metaverse