According to an article from The Verge, Facebook will change its company’s name next week to reflect its focus on building the Metaverse.
Facebook wants to be known for more than just social media
The upcoming name change is expected to be unveiled at the company’s annual Connect conference on October 28 but could be made public sooner. The reason for the name change is that Facebook wants to be known for more than just social media and the negativity currently associated with the name “Facebook.” The rebrand would likely position the blue Facebook app as one of many products under a parent company that oversees groups like Instagram, WhatsApp, Oculus, and more.
It’s no secret that Facebook is keen to get more involved in building the Metaverse. The company recently hired 10,000 employees in the EU to work on the Facebook metaverse to compete with companies like Roblox, Epic Games, or other metaverse companies. One possible name could have something to do with Horizon, the name of the yet-to-be-released VR platform that the company has been developing for the past few years. That app’s name was recently changed to Horizon Worlds shortly after Facebook unveiled a workplace collaboration version called Horizon Workrooms.
Not the first company to change its corporate name
If you want customers to use your digital world and spend their time on your platform you will need them to trust you. A reason for Facebook to rebrand their company would be to win this trust back after all the scandals in the past & the Congress hearings Facebook has been involved in.
Facebook is not the first high-profile tech company to change its corporate name as its ambitions grow. In 2015, Google reorganized under the Alphabet name to signal that it was no longer just a search engine but a giant conglomerate with companies that make driverless cars and health technology. And Snapchat renamed itself Snap Inc. in 2016, the same year it began calling itself a “camera company” and unveiled its first Spectacles camera glasses.