The massive social media empire Facebook is now known as Meta, and there’s no denying it. The company has rebranded well-known brands into Meta products, and the company is not stopping. According to Engadget, Facebook Wallet will become Meta Wallet soon.
Meta is doing what it can to establish itself as something other than “the artist formerly known as Facebook.” It’s now a major parent company that owns Facebook alongside other properties like Facebook Messenger, WhatsApp, Instagram, Oculus, and others. Since then, it rebranded the Oculus Quest as the Meta Quest, and so on.
Now, Facebook Wallet has become Meta Wallet
For starters, the company is still in the very early stages of this, so details are going to be scarce. The only tangible information we could glean was from a statement from Stephane Kasriel. She oversees the company’s financial division, and she said that Meta is “in the very early stages of scoping out what a single wallet experience might look like.”
Replace the word “single” in the quote with “unified”, and you’ll get an idea of what the company wants to do. Instead of making a wallet to only handle Facebook-related tasks, Meta wants to create a unified wallet experience across the entire metaverse.
A unified wallet experience isn’t a totally new concept. Google is inching toward the be-all-end-all digital wallet, the company announced during Google I/O. A true-to-form digital wallet won’t only handle your credit card payments. It’ll feel like having an entire wallet crammed inside your smartphone. You’ll be able to carry around a digital driver’s license, passport, and other forms of identification.
We’re not sure if this is what Meta is planning on doing, but it’s not outside the realm of possibility. If anything, the company could have the Meta Wallet be your digital wallet in the Metaverse. Wherever you travel in the VR space, you’ll have your one wallet with you to buy whatever you need.
Maybe you won’t have a digital ID to show in the real world, but you’ll have one in whatever corner of the Metaverse you’re occupying. We can’t tell right now what the company is planning on doing, but we should hear more about it in the near future.