In August 2021, Facebook unveiled the VR service Horizon Workrooms, a virtual meeting room where people using VR headsets can gather as if they were at an in-person work meeting. dollars into its Reality Labs segment in 2021 – the metaverse division tasked with creating AR/VR hardware, software, and content. The company announced that it would be investing 10 billion U.S. The company also remodeled its business segments and started reporting the financial results of its AR/VR business as Reality Labs, which saw a revenue of 2.3 billion U.S. Social network Facebook and its other apps, such as Messenger, Instagram, and WhatsApp will remain but under Meta's umbrella. The name change, which was announced at the Facebook Connect AR/VR conference, reflects the company’s growing ambitions beyond social media, notably bringing the metaverse to life.

In October 2021, Facebook announced that it had changed its company name to Meta Platforms. Mark Zuckerberg’s repeated references to the metaverse throughout 20 saw the concept gain mass global attention. As a plot, it has been used in several works of science fiction, including the Matrix films, and served as a source of inspiration to the founders of Google, Amazon, and Facebook. In Stephenson's novel, the metaverse refers to a digital universe that can be accessed through VR. The metaverse as a term was coined in Neal Stephenson's 1992 science fiction novel Snow Crash, where humans, as avatars, interact with each other.

Current meta definition