For years the social media giant has been under fire for encouraging the spread of misinformation and for its opaque policies around user data. Matters have only gotten worse in recent months after a whistleblower exposed many of the company's secrets.
At the same time, the social platform is falling out of favor with younger users. Many are instead flocking to the Chinese-owned video app TikTok.
Facebook makes money by selling targeted advertisements to marketers. But if user numbers dwindle, advertising revenue will, too. By repositioning itself as a new, futuristic company, Facebook may be hoping to outlive the original generation of social media companies — and its own bad reputation. Metaverse advocates, including Facebook, have insisted no one company will own or run the metaverse. But by making a strong push for it, Facebook can try to position itself as a leader in the space.
In reality, interactive online games like Roblox and Minecraft as well as software developer Epic Games have already existed and thrived for some time as precursors to the metaverse. But Facebook already acquired virtual reality device maker Oculus in , and recently said it plans to invest several billion dollars per year in its metaverse initiative going forward, building on its arsenal of virtual and augmented reality services and tools.
It also plans to spin out Facebook Reality Labs FRL , the business segment that oversees this area, into its own separate unit starting from the fourth quarter this year.
FRL encompasses everything related to Oculus, Facebook's virtual reality VR hardware and software initiative, as well as Horizon Worlds, a virtual reality online game played using an Oculus VR headset and handheld controllers. In Horizon Worlds, users generate games and worlds of their own design.
Trademark Cost. You can not register a trademark for free. How long does a trademark last in the US? In the United States, a federal trademark can potentially last forever, but it has to be renewed every ten years.
If the mark is still being used between the 5th and the 6th year after it was registered, then the registration can be renewed. Usually, the process takes 12 to 18 months. Registering your trademark is a complex procedure that involves your application moving through various stages. Learning about each stage in the process will help you understand why getting a trademark takes as long as it does.
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What does this mean for its users? The revelations by whistleblower Frances Haugen have put the US tech giant under renewed scrutiny.
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