Facebook plans to change its name to focus on metaverse: Report
Social media giant Facebook is planning to rebrand the company with a new name that focuses on the metaverse, The Verge reported adding that the company will make the announcement next week.
Chief Executive Officer Mark Zuckerberg is expected to announce the name at the company’s Connect conference on 28 October, The Verge reported citing a source with direct knowledge of the matter. The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp
Zuckerberg, who co-founded the social network in 2004, has said that the key to Facebook’s future lies with the metaverse– – a term used to describe virtual, interactive spaces in the digital world
“In the coming years, I expect people will transition from seeing us primarily as a social media company to seeing us as a metaverse company,” Zuckerberg said in July. “In many ways the metaverse is the ultimate expression of social technology.”
A rebrand could also serve to further separate the futuristic work Zuckerberg is focused on from the intense scrutiny Facebook is currently under for the way its social platform operates today.
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Earlier on Sunday the California-headquartered company unveiled its plan to hire 10,000 workers in the Europe to help build the metaverse the company sees as a key component of its future.
According to the company, the next computing platform has the potential to help unlock access to new creative, social and economic opportunities.
“Beyond emerging tech talent, the EU also has an important role to play in shaping the new rules of the Internet,” he said. Facebook in September announced that it will invest $50 million to partner with the organisation to responsibly build the metaverse.
