Facebook has been busy, and it has plans for the future. It has been making moves that indicate that the company is interested in expanding its offerings beyond what most people associate with social media. Recent events include an expenditure of $10 billion to build the Facebook Metaverse and further push for Virtual Reality.
Nevertheless, the latest news about the name change is quite interesting. Is Facebook really changing its name? If so, why has Facebook decided to change its name? Or is there something more sinister going on? We’ll look at all the possibilities.
Is Facebook Changing its Name to Metaverse?
Facebook is changing its name. Yes, you read that right. However, it’s unlikely that the company is changing its name to "Metaverse" itself. That doesn’t mean that the company isn’t moving in that direction, though. The company will be changing its name to embrace the "metaverse". It’s changing its name to something totally different, something that fits their future plans.
The Verge reports that the new name is a closely guarded secret, even among Facebook's senior leadership. Facebook's new name is yet to be announced, but we can probably expect something along the lines of "Horizon" or "Meta", as per the Bloomberg report. Co-founder and CEO Mark Zuckerberg reportedly plans to announce the name change at the company's Connect conference on October 28. Let's wait until that and see what happens.
Why is Facebook Changing it's Name?
The social media site is in the process of becoming a metaverse company and the name change is part of the process. Mark Zuckerberg told The Verge earlier this year that "over the next several years, we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”
The new name is an important move for the company because it signals that Facebook is more than just a social media platform. With the company owning Instagram, WhatsApp, Oculus VR, and Giphy, the new name will likely organize every group under one umbrella. However, we shouldn’t expect a full transition to metaverse right away. FB is just getting started and it will take time to make the change. The new name could be a “strategic shift” that signals it is ready to start “broadcasting messages to the world.”