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Facebook would have changed its name because it wants to be known for its “metaverse” objective

Facebook CEO Mark Zuckerberg onstage at an Oculus Developer Conference in 2016. Glenn Chapmann / AFP via Getty Images

  • Facebook is considering renaming the company with a new name, The Verge reported on Tuesday.

  • The name change aims to overhaul Facebook by focusing on building a “metaverse”.

  • Facebook could unveil the new name within a week, according to The Verge.

Facebook plans to change the company’s name next week, The Verge reported Tuesday evening.

The new name will aim to redefine Facebook’s goal of becoming a “metaverse business” rather than a social media company by renaming its main app as one of many under a single parent company, according to The Verge.

CEO Mark Zuckerberg will discuss the name change at Facebook’s annual Connect conference on October 28, but the company may announce the name before then, The Verge reported.

Facebook did not respond to a request for comment on this story.

Metaverse generally refers to the loosely defined concept of a virtual space where people can use virtual and augmented avatars. The term metaverse was coined by science fiction author Neal Stephenson in his 1992 book, “Snow Crash”, but the idea appeared in popular culture through films like “The Matrix” and “Ready Player. One “.

Facebook said Monday it wanted to hire 10,000 people across Europe to help create the company’s own version of a metaverse, which has increasingly caught Zuckerberg’s attention.

In July, Zuckerberg told The Verge that he viewed the metaverse as “an Internet personified, where instead of just viewing content, you are there.”

Facebook’s proposed name change also comes as it faces yet another scrutiny in a series of scandals related to its social media platforms, including a series of documents leaked by a whistleblower to Congress, to the Securities and Exchange Commission and the media. .

Katie Canales contributed reporting for this story.

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