Meta Moves Foward With New Business Venture After Facebook Name Drop

Meta, formally known as Facebook will be setting up retail stores as the tech giant embarks on its newest business ambition, the New York Times reported.

Meta CEO Mark Zuckerberg says his goal is to explore the metaverse which will comprise virtual reality and social media including Instagram, Facebook proper, and virtual reality brand Oculus. “We believe the metaverse will be the successor of the mobile internet,” Zuckerberg said.

Some people have expressed their skepticism about how soon a metaverse can become a reality, “We are, at best guess, at least five to 10 years out from a fully fleshed out Meta product or service,” said Tim Derdenger, a professor at Carnegie Mellon University’s Tepper School of Business.

When Meta’s retail stores become a reality they would feature portal devices that would allow users to video chat over Facebook as well as the Oculus headsets. According to company documents, the Facebook store is the leading candidate for the upcoming store’s new name. Meta has yet to release a date for the opening of its upcoming stores.