Facebook is planning to rebrand itself with a new name that aligns more with the metaverse, an alternative digital world that the social media giant has set its sights on.
According to the Verge, sources with direct knowledge of the matter indicate that Facebook is planning to announce the new brand name next week.
According to the report, the Facebook app and all other product apps such as Instagram and Whatsapp will now be positioned under one brand name. The same concept was adopted by Google when it established the Alphabet Brand, where Google, YouTube, Gmail and all its products come under.
Facebook CEO Mark Zuckerberg started talking about the metaverse way back in July. The company has made considerable investments in augmented reality and virtual reality.
Apart from unveiling the Ray Ban Stories las month, Facebook has also developed hardware such as Oculus VR headsets and is reported to be working on AR glasses and wristband technologies.
The metaverse is already referenced in Silicon valley by various tech companies. Popular children’s game Roblox and Epic Games Fortnite are considered part of the metaverse.
Zuckerberg is expected to announce the new brand cduring the company’s annual Connect conference on Oct. 28, but it could be unveiled sooner, the Verge said.
Facebook has in the past few weeks come under scrutiny for its moderation practices that are said to be causing harm to users.