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Facebook To Change Its Name To Launch Its Metaverse This Week, Reports Say

Social networks are little for Mark Zuckerberg and he's going for something bigger: his much-heralded metaverse. That is why he plans to change the name of Facebook this week.

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

If anything is known about Mark Zuckerberg , it is that he is always looking for ways to expand his businesses to cover all possible fronts. Now, reports from The Verge claim that Facebook will change its name this week to launch what would be its most ambitious project: the metaverse .

Thought Catalog vía Unsplash

In August, Zuckerberg launched his first virtual reality product, Horizon Workrooms , and last week he announced the hiring of 10,000 people in Europe to further develop his metaverse .

It should be remembered that Facebook has also grown through strategic purchases such as the acquisition of Instagram , WhatsApp , the virtual reality company Oculus VR , the game developer Beat Games and even the Giphy platform.

Thus, little by little, the tycoon has set the stage to take his next big step: create a parent company that encompasses all his businesses and that represents his new identity beyond social networks . Therefore, the change would be focused on Facebook Inc. as a company, not on the social network, which will retain its title.

According to the media, the new name of Facebook is one of the best kept secrets still within the company, but it will soon be known. Apparently, Mark Zuckerberg plans to make the big reveal next October 28 , during the annual Conect event.

What is the Mark Zuckerberg metaverse?

A few months ago, the 37-year-old billionaire described it as "a kind of hybrid between the social platforms that we see today" , but where users are more immersed.

"We will go from people seeing us primarily as a social media company to being a metaverse company," the Facebook CEO commented last July to the same medium.

This virtual universe would include virtual offices such as Horizon Workrooms , concerts, games, shops and even spaces similar to public squares to bring people together through avatars. So although Facebook's next name is a mystery, it is said that it could be something like 'Horizon' or 'Meta'.

Why is Facebook going to change its name at this time?

In addition to prioritizing its virtual universe and pursuing other objectives, the change would also mean a renewal after years of problems with its social networks , from accusations of monopolistic practices , scandals for violations of user privacy and leaks , to the recent fall from Facebook, Instagram and WhatsApp .

Remember that Facebook is under scrutiny by regulators for its alleged negligence to moderate content and the damages associated with the use of its platforms .

With this change, Mark Zuckerberg 's company would be replicating the move Google made in 2015 , when it changed its name to stop being a simple search engine and reorganize itself under the Alphabet conglomerate , with multiple divisions and presence in different technology sectors.