Social media platform Facebook has reportedly planned to rebrand itself with a new name to reflect its focus on building the metaverse, a virtual-reality space in which users can interact with a computer-generated environment and other users, reported The Verge.
The announcement is likely to take place at the company’s annual Connect conference on October 28th.
“The 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 that the internet evolves after the mobile internet,” Facebook Chief Executive Officer (CEO) Mark Zuckerberg told The Verge.
The Verge stated a possible name for the company could have something to do with Horizon. Recently, Facebook renamed its in-development Virtual Reality (VR) gaming platform named “Horizon” to “Horizon Worlds”.
Since July, Zuckerberg has been talking about the metaverse.
Earlier this week, the social media company also announced plans to create 10,000 jobs in Europe over the next five years to help build this metaverse.
Facebook isn’t the first tech company to change its company name as in 2015 Google entirely reorganized under a holding company called Alphabet.