Facebook is aiming to rebrand the company with a new name

Due to Facebook's increased emphasis on the metaverse, the corporation plans to change its name by next week. The idea for the renaming came from CEO Mark Zuckerberg, who plans to reveal all the specifics during Facebook's annual Connect event on October 28th. In a nutshell, the company wants to be known more for its products than for being a social media platform.

The blue Facebook app will now be one of several products under the parent company, which also oversees Instagram, WhatsApp, Oculus, and other companies. This would also help to distinguish the futuristic work from the existing social media platform.

The new Facebook name has been kept a closely guarded secret, even among senior executives. However, reports suggest that the name will be similar to "Horizon", the name of the still-unreleased VR version of Facebook-meets-Roblox that the company has been working on for several years.

Up to this point, the company has concentrated its efforts on developing VR and AR technologies as well as investigating the so-called metaverse. "(The metaverse) is going to be a huge priority," Zuckerberg says, "and I think that this is really going to be a big part of the next chapter for how the internet progresses beyond the mobile internet." And I believe it will be the next important chapter for our company as well, as we invest heavily in this area."