As per reports from the source who has direct knowledge of the subject, it has been confirmed that Facebook is preparing to alter its company name probably by next week to indicate its target on setting up the metaverse.
The upcoming name change, which the CEO of Facebook Mark Zuckerberg prepares to speak about on 28th of October, during the annual Connect conference of the company, but the same can be unveiled sooner as well. The reason behind changing the name is meant to indicate the motive and vision of the tech giant to be renowned for more than just social media platforms and all the ills that involve.
The rebrand might probably spot the blue Facebook application under a parent company as one of its many products overlooking other platforms such as WhatsApp, Instagram, Oculus, and others. However, a spokesperson of the company refused to state anything in this context.
Being a metaverse company
The company already employs more than 10,000 staff setting up consumer hardware such as AR glasses that the CEO thinks will be as common as smartphones nowadays.
In an interview in July, he said that throughout the next few years, “we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”
Antitrust regulators attempting to split up the company
A rebrand might also provide to additionally isolate the visionary work Zuckerberg is aimed at from the powerful study Facebook is presently under for the manner its social media platform runs today.
A whistleblower who was identified as a former employee of the company, Frances Haugen, revealed recently a pile of critical internal documents to The Wall Street Journal and remarked on the same in front of Congress.
Antitrust regulators in the US and elsewhere are attempting to split the company up, and public trust in how Facebook does business is declining.
Many other companies also rebranded as a result of expansion in ambitions
Facebook isn’t the only popular tech company that is changing its company name due to expansion in its ambitions. In 2015, Google redesigned completely under a holding company named Alphabet, partially to indicate that it was more than only a search engine, but an expansive amalgam with the companies building driverless cars and health tech. In 2016, Snapchat also rebranded to Snap Inc, and in the same year, it began calling itself a “camera company” and launched its very initial pair of Spectacles camera glasses.
What can the prospective name be based on?
It has been told that the new company name of Facebook is a closely protected secret behind its walls only and not known extensively, in fact within its entire senior leadership. A prospective name might have something related to Horizon, the name of the still-unveiled VR version of Facebook-meets-Roblox that the company has been building for the past several years. Recently, the name of that application was changed to Horizon Worlds soon after Facebook displayed a version for workplace partnership named Horizon Workrooms.
Besides the comments of Zuckerberg, Facebook has been regularly putting the basis for larger attention on the next generation of technology. This year, in summer it builds up a devoted team for the metaverse. In the recent past, it declared that the head of AR and VR, Andrew Bosworth, will be getting promoted and progressed to chief technology officer. And just a couple of days ago, Facebook shared its plan to recruit 10,000 more staff to serve on the metaverse in Europe.
This summer, Zuckerberg said during an interview that the metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet,” adding further he stated, “And I think it’s going to be the next big chapter for our company too, really doubling down in this area.”
The idea of the metaverse is still not understood widely
The complex subject is that although in recent weeks, the idea of the metaverse has been immensely promoted by Facebook, still this concept has not been widely understood by many people. The title was generated initially from a sci-fi novelist, Neal Stephenson to explain a digital world people avoid through a dystopian, actual world.
Now the idea is being picked up by one of the biggest and most controversial companies in the world and it will have to describe why its virtual world deserves to dive into.
- 1 Motive is to indicate the aim of giant tech to be known for more than just social media
- 2 Being a metaverse company
- 3 Antitrust regulators attempting to split up the company
- 4 Many other companies also rebranded as a result of expansion in ambitions
- 5 What can the prospective name be based on?
- 6 The idea of the metaverse is still not understood widely