Facebook to change name to focus on building metaverse

MANILA, Philippines — Social media giant Facebook is planning to change its name next week for them to focus on building its metaverse.

According to The Verge, Facebook Chief Executive Officer Mark Zuckerberg will talk about the name change at the company's annual Connect conference on October 28. 

"The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more," The Verge reported. 

Zuckerberg said last July that the company will transition from being a social media company to a metaverse company. 

“We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company,” he said in an interview. 

“It's going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the Internet evolves after the mobile Internet. And I think it’s going to be the next big chapter for our company, too, really doubling down in this area,” he added.