Facebook, which has seen frequent attacks by regulators and decision makers over its business practices, is planning to rebrand and choose a new name focused on the Metaverse, and according to The Verge, which leaked the news, the new name will be announced next week.
The term Metaverse or virtual space is a broad term that includes many meanings, and generally refers to the shared virtual environment between people who connect to the Internet, and the term may refer to digital spaces that are designed to be alive through the use of virtual reality technologies VR and augmented reality AR, and some use the term Metaverse to describe the world of open-world video games, where the player can communicate with other players around the world.
Facebook CEO Mark Zuckerberg was talking about virtual space, describing it as a digital world in which people can move between different devices and communicate in a virtual environment, and since last July, Facebook has invested heavily in virtual and augmented reality technologies, developing devices such as the Oculus VR helmet and Oculus AR augmented reality glasses and is currently working on wristbands. Read more [Facebook Takes Its First Steps In Augmented Reality].
The move will lead to the app being seen as one of several products run by the parent company that oversees brands like Instagram and WhatsApp, and Google is said to have adopted a similar restructuring move when it reorganized itself into a holding company called Alphabet in 2015.
If the leaks are true, a name change would make sense as the core of Facebook’s business has become less important to the group as it seeks to renew its image tarnished by regulatory campaigns and legal scrutiny over how it handles user security and hate speech.