Facebook Plans to Rebrand With a New Name Next Week: Report

Facebook is planning to rebrand itself with a brand new identify subsequent week to replicate its concentrate on constructing the metaverse, the Verge reported on Tuesday, citing a supply with direct information of the matter.

Facebook Chief Executive Officer Mark Zuckerberg plans to speak in regards to the identify change on the firm’s annual Connect convention on October 28, nevertheless it may very well be unveiled sooner, The Verge reported.

A metaverse refers to shared digital world environments, which individuals can entry by way of the Internet. The time period can seek advice from digital areas, that are made extra lifelike by means of digital actuality or augmented actuality.

The rebranding would possible place Facebook’s social media app as considered one of many merchandise beneath a guardian firm, which can oversee teams like Instagram, WhatsApp, Oculus, and extra, the report added. Facebook mentioned it doesn’t touch upon hearsay or hypothesis.

Earlier this week, Facebook introduced plans to rent 10,000 folks within the European Union to construct the metaverse. “The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start,” Facebook mentioned in a blog post.

The European hires will embrace “highly specialised engineers”, however the firm in any other case gave few particulars of its plans for the brand new metaverse staff. “The EU has a number of advantages that make it a great place for tech companies to invest – a large consumer market, first class universities and, crucially, top quality talent,” the weblog submit mentioned.