Meta, formerly Facebook, is set to launch a store allowing Instagram and Messenger users to purchase digital clothing for their avatars.
Mark Zuckerberg, the CEO of Meta, announced from Facebook that a virtual store is in the works for the metaverse, featuring products from various brands.
Zuckerberg expressed the significance of digital products in the metaverse, stating, “Digital products will be an important way to express yourself in the Metaverse universe and a huge driver of the creative economy.”
According to reports, the store is planning to include multiple fashion brands such as Balenciaga, Prada, and Thom Browne.
Meta Platforms, Inc. Overview 🌐
Meta Platforms, Inc. is an American multinational technology conglomerate based in Menlo Park, California. It is considered one of the Big Five American information technology companies, alongside Alphabet (Google), Amazon, Apple, and Microsoft.
- Founder & CEO: Mark Zuckerberg.
- Former Name: The company was originally known as Facebook, Inc. until its rebranding to Meta in October 2021.
- Key Products: Meta owns and operates some of the world’s most popular social networking services and applications:
- Messenger
- Core Focus: The Metaverse: The name change to Meta reflects the company’s significant focus on building the “metaverse”—a vision for an alternative, persistent virtual existence through augmented reality (AR) and virtual reality (VR) technologies. Its VR hardware division, formerly Oculus, is now branded as Meta Quest.
- Revenue Source: The vast majority of Meta’s revenue comes from advertising across its family of apps.
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