Facebook Is Planing A Name Change Next Week To Rebrand The Company: Report

International

New Delhi: Facebook is believed to be planning to change the name of its organisation next week as it focusses on building the metaverse, The Verge reported, quoting a source with an insight on the issue.

The metaverse is a new computing platform that aims to connect people virtually. It is also a virtual reality version of the internet that Facebook visualises as the future.

According to The Verge report, Facebook CEO Mark Zuckerberg, who is expected to talk about the company's new name at Facebook's annual Connect conference on October 28, 2021, could announce it sooner thus reflecting his ambition to be recognized for more than his contribution to social media and others. 

The rebranding of the company's name is likely to put Facebook app under the list of the parent company's overseeing group along with Instagram, WhatsApp, Oculus, and various others. However, as per The Verge, the Facebook spokesperson has declined to share any comments regarding this story.

The metaverse has been a fictional concept that brings together the real and the virtual worlds. Like many other fictional concepts, the metaverse appears to be turning into a reality. It is believed to blur the lines between the physical and the digital world, and Zuckerberg has shown great interest in this project. 

Earlier on September 27, Facebook announced an investment of $50 million in the metaverse project.

It is a space that brings together virtual and augmented reality, the Internet and real life. Besides Facebook, Microsoft chief executive Satya Nadella has also said the company is heavily investing in the “enterprise metaverse”, according to news reports.

With the help of metaverse technology, one can wear virtual reality glasses that will give the person the feeling of being exactly in front of a friend, though the person is far away in reality and is connected only through the internet.