[Asia Economy Reporter Kwon Jae-hee] Mark Zuckerberg, CEO of Facebook, has repeatedly stated his goal to transform the company from a social media firm into a metaverse platform company.
According to Bloomberg on the 28th (local time), Zuckerberg made these remarks during a conference call following Facebook's Q2 earnings announcement.
The metaverse is a compound word of "meta," meaning virtual or abstract, and "universe," meaning the real world. It refers to an online world where users can play games, work, and communicate in a virtual space.
Roblox, which has achieved great success by building a virtual space gaming platform, is considered a representative metaverse company.
Zuckerberg said, "The metaverse is the future we aim for and the next chapter for Facebook," adding, "We will create completely new experiences and economic opportunities."
He defined the metaverse as "the next-generation internet that you exist within," and "the ultimate expression of social technology," emphasizing that people will come to recognize Facebook as "a metaverse company rather than a social media company."
He continued, "You can be with people in digital spaces," and "Creating avatars and digital objects will be at the core of how we express ourselves."
Previously, Facebook acquired the virtual reality (VR) device company Oculus in 2014 and launched the beta service of the VR-based social media platform 'Horizon' in 2019.
Bloomberg reported, "Zuckerberg spent time and passion explaining the metaverse concept that day, but Wall Street analysts were skeptical."
It added, "Analysts questioned Facebook's investment plans in the metaverse business and the timing of revenue generation, but the answers were vague."
Facebook Chief Financial Officer (CFO) Dave Wehner said, "Facebook is spending billions of dollars on the metaverse business, and if this business succeeds, it will ultimately make money."
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