Facebook Plans to Change Its Name, Focuses on Building the “Metaverse”

The tech giant will recruit 10,000 workers from Europe to build the metaverse – a combination of virtual and augmented reality technologies.

Facebook is planning to change its name, which will be compatible with the IT giant’s focus on building the metaverse.

According to reliable sources, CEO Mark Zuckerberg could talk about the rebrand at the company’s Connect conference on October 28. The rebrand would likely see its various products come under one umbrella, which would include Instagram, WhatsApp, Oculus, and Facebook.

The combination of virtual and augmented reality technologies, metaverse, is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way the internet evolves after the mobile internet,” Zuckerberg told The Verge

“And I think it’s going to be the next big chapter for our company too, really doubling down in this area.”

The tech giant has announced that it will recruit more than 10,000 workers from Europe to build the metaverse Sunday.

Nick Clegg and Javier Olivan, Facebook executives, wrote, “As we begin the journey of bringing the metaverse to life, the need for highly specialized engineers is one of Facebook’s most pressing priorities.”

According to experts, a rebrand could help Zuckerberg focus solely on his futuristic work, diverting from the intense scrutiny about the way the social media platform functions today.

Frances Haugen, Facebook’s ex-employee turned whistleblower, went public about Instagram’s adverse impact on the mental health of its young users. Haugen claimed that Facebook “repeatedly” misleads people into believing that the platform is safe for its youngest users. While it’s true that antitrust bodies in the US are trying to gather more evidence on how Facebook conducts its business, the tech giant is currently only focused on creating a second internet.

Metaverse is aimed at creating a space similar to the internet, where users could interact with one another just like they would in the real world. The next generation of the internet will see virtual meetings and connecting with a remote friend all in real-time.

Facebook is not the only tech company to rebrand itself to keep up with its ambitious growth. In 2015, Google reorganized itself under one umbrella called Alphabet, while Snapchat rebranded itself as Snap to reflect its entry into the hardware sector in 2016.

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