Facebook owner confirmed Reuters who was involved in a $ 60 million (approximately € 53 million) deal to acquire the rights associated with the Meta name. Mark Zuckerberg’s company changed its name at the end of October, begins to use the name Meta to reflect interest in advancing into the metaverse.
According to information provided to Reuters, Meta Platforms was involved in the deal through another company, which was negotiating the title with US regional bank Meta Financial Group.
According to a document filed by Meta Financial, a Delaware-based company called Beige Key LLC agreed to buy out the global rights to the company name for $ 60 million in cash. Although this document did not disclose the name of the company that owns Beige Key, an official source from Meta (Facebook) told Reuters that the company is an “affiliate” of the technology. “We bought these assets with trademark rights,” a Meta Platforms spokesman said. Also, an official source at Meta Financial confirmed to the agency Meta Platforms’ involvement in this business. Ultimately, this business increases the importance of the metaverse plans for the technological… The company planned to invest $ 10 billion in metaverse-related initiatives ranging from virtual reality to augmented reality and even hardware development.
