Facebook is planning to rename and rebrand itself on the metaverse next week. The tech giant’s business practicies are under fire from regulators from around the world.
Facebook plans to announce the new name next week because the company wants to be known for more than just a social media giant.
The Verge is reporting that, “The coming name change, which CEO Mark Zuckerberg plans to talk about at the company’s annual Connect conference on October 28th, but could unveil sooner, is meant to signal the tech giant’s ambition to be known for more than social media and all the ills that entail. The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more.”

So what is the “metaverse?” It’s a virtual world people escape to from a dystopian, real world.