Facebook Became Meta – Are We All Jumping Into Metaverset?

On October 28, 2021, Mark Zuckerberg wrote a founding letter outlining the brand’s decision to change its name to Meta, suggesting this phase as the beginning of the next chapter for the Internet. He went on to say:

“Metaverset is the next frontier to connecting people, just like social networking was when we started,”

Facebook has taken this step to pursue opportunities in the virtual world of “the metaverse”.

Adidas also joined the growing ranks of those entering the metaverse, releasing a unique token that works in the same way as an NFT, while Nike and Roblox collaborated on the virtual realm, “Nikeland”, which marked their first step into this new space.

And they are not the only major brands to see the potential of this fast-growing technology and how it can permanently change the way we network, shop and do business.

For most of us, Facebook is perceived as a social media company, an almost iconic social media brand, but things are changing, and although no one is quite sure exactly what the meta-verse will look like, a new iteration of the Internet, Web 3.0, has meant , that social media is changing, and many of the original pioneers of social media are already moving into this exciting new space and applying these hard-won lessons to these new technologies.

Having spent my entire career immersed in the world of social media using these platforms to maximize business success and growth, it’s fascinating to see how colleagues, employees and industry leaders from around the world have begun to invest in both the meta-verse and the Internet. 3.0 is making and is already seeing seven-digit returns.

Social media is changing

Most of us consider social media to be ubiquitous, but there was a time when many companies did not see it as something worth investing in. As technology caught up and revealed huge opportunities in e-commerce, the value of a Presence on social media quickly became apparent, and these companies were 10 steps behind their competitors – I predict this will be the case with Metaverse and Web 3.0.

Those who took the leap into social media when it was still a new technology were able to build hugely influential followers as well as create strong brands. We see the same thing happening as entrepreneurs use the infrastructure of Web 3.0 to create and invest in new metaverse platforms.

Who does what?

We have already seen the explosion in cryptocurrency platforms, with Jack Dorsey’s financial services company, Square, investing $ 50 million in Bitcoin, and Tesla following suit with an investment of over $ 1.3 billion. Similar non-fungible tokens [NFTs] is rich in opportunities for companies and investors beyond just trading in digital artworks and collectibles.

While Facebook’s name change may have gained mainstream attention to the metaverse’s possibilities, the road has already been paved by many big names who first cut teeth on social media.

Gary Vaynerchuk, CEO of VaynerMedia, identified the Internet as an opportunity to seize land and opened one of the first e-commerce platforms in the late 90s. He grew up essentially with social media, and became a hugely productive and influential name in the industry, and he has invested in Metaverse for the past two years, creating and developing Vee Friends, an NFT branding company, as well as other Web 3.0 initiatives. .

Other early social media users, such as Social Chain co-founder and youngest investor ever in Dragon’s Den, Steven Bartlett, have also begun investing in a number of Web 3.0 companies, while social media pioneer Cathal Berragan moved from Social Chain New York to a Web 3.0 company in London.

While these are just a handful of names, all of their significant followers are using social media and the skills they learned on these platforms to make the transition to this new space.

Early social media users have the benefit

With Web 3.0 and the metaverse ready as the successor to the current iteration of the Internet, it’s the pioneers who were able to adapt their thinking and take a leap into social media who have the biggest advantage in taking the next step. in the meta-verse.

They already have extensive experience in cultivating a following and building a community and are able to bring that community with them into new ventures, such as those that started running meme accounts on platforms like Twitter and switched to buying and create NFTs.

The ability to communicate your message clearly on new platforms is something that early social media users already have extensive experience with, and which is crucially able to hit the relevant tone as well as repeat their content style to retain and engage their audience. People who were willing to take a risk by investing their time in new platforms such as TikTok or Snapchat are betting their claims on these new spaces and it is these people who are now reaping the benefits of being on the verge of metaverse.

Tim Hyde

After embarking on his career leading the Facebook strategy for Lad Bible, Tim Hyde boasts an impressive track record of helping businesses and brands scale online through effective social media marketing strategies. One of the industry’s leading social media gurus, Tim founded TWH Media in September 2017 and now works with major brands globally ranging from Adidas to Apple Music.

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