Facebook is reportedly planning to rebrand itself by changing the company’s name to focus on building the metaverse. The speculation is that the Facebook CEO, Mark Zuckerberg will talk about the supposed rebranding at the company’s annual connect conference on October 28.
It has been reported that the unveiling could be done as soon as possible. The rebranding would allow Facebook to be known for more than just Facebook and metaverse will become a patent under the company.
Facebook would likely change the name of its holding company and it has reported that the name could be linked to ‘Horizon’.
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Metaverse refers to shared virtual world environments, it is to be a digital world where people can move between different devices and communicate in a virtual environment. Metaverse also refers to digital spaces which are lifelike and uses Virtual Reality (VR) or augmented reality (AR).
The revamp will show that Facebook has now broadened out its business and it will reflect positively on its image which has been tarnished by numerous regulatory and legal controversies and scandals.
The rebrand is similar to what Google did back in 2015 when it came under the parent company ‘Alphabet’. As Facebook has been under widely covered scrutiny as a result of scandals that emerged over the years, rebranding into a new parent company can be seen as a smart move.
The new products the company is developing will not be affected by the negative reception towards Facebook currently. We will be looking to see if the name change reported to be on the 28th October at connect conference will be announced.