Facebook is reportedly planning to rebrand its platform by changing the company name next week to a name that reflects the shift of focus on its latest project 'metaverse', according to The Verge.
Facebook announced new 10,000 job offers in Europe in the next five years to launch the new computing platform dubbed 'metaverse'.
The Verge also reported that CEO Mark Zuckerberg will reveal the new company name at the company’s annual Connect conference on October 28th. This rebrand will create an umbrella company for all Facebook's products positioning Facebook itself, Instagram, WhatsApp, and Oculus under it.
Google made a similar move back in 2015 with the creation of Alphabet as a parent company for all products.
What is Facebook Metaverse?
Metaverse is a new computing platform that aims to connect people who use augmented and virtual reality and allow them to interact and engage with others who aren’t in the same physical space.
At its heart is the idea that by creating a greater sense of “virtual presence”, interacting online can become much closer to the experience of interacting in person. The metaverse has the potential to help unlock access to new creative, social and economic opportunities.
Just like the Internet, Metaverse will not be owned by any company but will be built in collaboration and cooperation across companies, developers, creators, and policymakers.
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