Facebook is reportedly planning on changing its name next week as part of a rebranding effort so it can focus more on the "metaverse," according to a report by The Verge.
The metaverse refers to “efforts to combine virtual and augmented reality technologies in a new online realm,” according to CNN.
The goal is to create a space where users can walk around on the internet, via virtual avatars, and meet up with friends at a virtual coffee shop, or attend meetings and classes in person, virtually, using avatars.
Facebook also owns Instagram and WhatsApp, so the rebranding and name change will likely put the three platforms, Facebook, Instagram, and WhatsApp, under the new umbrella brand. The concept is similar to how Google is under its parent company Alphabet.
According to The Verge, Facebook CEO Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference Oct. 28.
Facebook currently has more than 10,000 employees building the metaverse and is working on things like AR glasses, which Zuckerberg believes will be as common as smartphones.
Facebook has received a significant amount of backlash recently, however it is not known if the rebranding effort is a direct response to that criticism.
For example, earlier this month whistleblower Frances Haugen testified against the company alleging Facebook is unable to control content and practices she says harms children and fuels division.
Facebook has also struggled with other business practices lately, including settling a lawsuit that the company discriminated against U.S. workers in favor of foreigners with special visas to fill high-paying jobs.
