Facebook Plans to Change its Name to Focus on Metaverse

According to The Verge, Facebook is aiming to rename itself with a new identity in order to focus on establishing the metaverse.

According to The Verge, CEO Mark Zuckerberg will reveal the company’s new name on October 28 at the annual Connect conference, but it could be announced sooner.

Facebook, which aspires to be renowned for more than just social networking, revealed on Sunday that it will hire 10,000 people in Europe over the next five years to help construct the metaverse, which the corporation regards as critical to its long-term success.

Andrew Bosworth, the business’s head of AR and VR, will be promoted to chief technology officer, the company revealed a month ago. Facebook now employs over 10,000 people who work on consumer gear such as augmented reality glasses, which Zuckerberg expects will become as common as smartphones.

Facebook’s future, according to Zuckerberg, is in the virtual metaverse, where people will live, work, and play.

The rebranding comes as Facebook is under fire for a number of controversies, including a series of internal documents disclosed by whistleblower Frances Haugen, who appeared before the Senate Committee on Commerce, Science, and Transportation. The US government is still investigating Facebook for antitrust violations.

A Facebook spokeswoman responded, “We don’t comment on rumor or speculation.”

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