‘Facebook is going to change name to reflect focus on metaverse’

Facebook is set to unveil a new company name next week, rumor has it. The new umbrella name should reflect that the company is more than a social network and also reflect a focus on the metaverse.

It is probably a company name that Facebook will fall under in addition to Instagram, WhatsApp and Oculus, writes The Verge, who heard from sources about an upcoming name change. CEO Mark Zuckerberg is set to announce the change at Facebook’s Connect event next week.

The Verge refers to a statement against the site last July: “We are going through a transition where people will no longer see us primarily as a social media company, but as a metaverse company”. The new name should reflect that transition, rumor has it. In addition, a name change would not bode well for Facebook because of the continuing negative reporting around Facebook.

Companies such as Facebook are increasingly using the term ‘metaverse’ to describe a future virtual environment in which people can interact. At the beginning of this week, Facebook claimed that investments in this will create ten thousand jobs in Europe.

It is unknown what the new name will be. In the past, Facebook under the name Horizon worked on a virtual environment. This name was changed to Horizon Worlds in early October, according to UploadVR.