The Verge, US tech news website report says CEO Mark Zuckerberg is planning to announce the new name next week during the annual connect conference on 0ct.28. The change in the name reflects the company’s ‘’ focus on building the metaverse, per tech news outlet.
However, Facebook spoke person says, ‘’ we don’t comment on rumor or speculation.’’
According to the report, the new name could be link to Horizon. A word use in virtual reality products that the company is developing.
What’s the story?
According to Verge reports, Virtual reality is the driving force behind the name change. The company focuses on building a ‘’ Metaverse.’’ It’s the new cornerstone for the growth strategy. In the coming announcement on 28 October, Facebook will provide more details about metaverse.
In metaverse, the main product will be Oculus, a reality brand. It defines the concept that involves people leading their social and professional lives. also, interacting with other people via augmented reality and VR headsets. It’s like putting digital life on top of real life.
The social virtual reality developed by Facebook will be call Horizon World as well as virtual reality meeting service which is Horizon workrooms.
Facebook’s vice president of global affairs, Nick Clegg says he takes his morning meetings in the metaverse with a virtual table and whiteboard.
Facebook says it has under 2.8 billion daily users. Also, Facebook is creating 10,000 new jobs in the European Union as part of growth plans including the building of metaverse.
Indeed, it’s not a new move. In the past, Google rebranded itself as the alphabet. Which shows its determination to break into new fields in tech such as self-driving cars.
Also, snap Inc. in 2016, called itself a‘’ camera company’’ and debuted its first pair of spectacle camera glasses.
Metaverse
In July, in an interview with The Verge, told that over the next few years, ‘’ we will effectively transition from people seeing us as primary being on social media company to being a metaverse company.’’
Meanwhile, the company’s new name is a closely guarded secret within its walls. Even the top leadership does not know about the name. Though, its suspect that the new name could be link to Horizon, the unreleased VR version of Facebook meets-Roblox.
Talking about the future of Facebook and Metaverse, Mark Zuckerberg said, ‘’ and I think it’s going to be the next big chapter for our company too, really doubling down in this area.’’