Facebook has announced a big plan, which is to change the company’s name by next week. The purpose behind doing so is to make Facebook known for more than just a social media company. CEO Mark Zuckerberg is expected to talk about the company’s new name at the annual Connect conference on October 28th, although it may be revealed sooner than that.
“We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company,” Zuckerberg had previously mentioned.
Facebook is already on the futuristic path with its AR innovations. The company has been quite focused on the latest technologies. Only recently, it has even created a dedicated metaverse team and also announced the promotion of the head of AR and VR, Andrew Bosworth, to chief technology officer. Moreover, it has announced plans to hire 10,000 more employees to work on the metaverse in Europe.
Zuckerberg further explained that the metaverse would be a major focus for Facebook and “a big part of the next chapter for the way that the internet evolves after the mobile internet.”
It has been rumored that the new name for Facebook is closely-guarded even within the company itself and is not widely known.