Facebook is reportedly getting a brand new identify subsequent week

The social networking big needs to create a brand new id as a “metaverse company.”

What it’s good to know

  • Facebook is alleged to be planning to alter its identify to “reflect its focus on building the metaverse.”
  • The change might be introduced as quickly as subsequent week.
  • The rebranding may result in the creation of an umbrella firm that will oversee the Facebook app, Instagram, WhatsApp, Oculus, and extra.

Facebook has determined to alter its identify to raised mirror its concentrate on “being a metaverse company,” based on The Verge. The social networking big is predicted to element the change at its annual Connect Conference on October 28, however an announcement may occur sooner.

The report suggests Facebook’s new identify might have one thing to do with Horizon, which is the identify of its social VR platform. The app’s identify was modified to Horizon Worlds earlier this month.

A supply acquainted with the matter instructed the publication that the rebranding is supposed to “signal the tech giant’s ambition to be known for more than social media and all the ills that entail.” The Facebook app and different teams like Instagram, WhatsApp, and Oculus might be positioned beneath a dad or mum firm as a part of the rebranding.

Back in July this 12 months, Mark Zuckerberg instructed The Verge that he needs to remodel Facebook from a social media community to a “metaverse company” over the following 5 years or so. Facebook defines the metaverse as a “set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

In 2015, Google did one thing related when it determined to create a brand new public holding firm known as Alphabet to make it simpler to “run things independently that aren’t very related.”

The information comes simply days after Facebook introduced that it will rent 10,000 folks throughout the European Union to “help build the metaverse.” It additionally created a brand new product group in July this 12 months to work on the metaverse. The group is a part of Reality Labs, which is the corporate’s digital actuality group.

Facebook declined to touch upon the story.

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