Facebook the biggest social media company is planning to rebrand itself into a brand new name focused on the metaverse, according to the report of reputed media Verge’s report on Tuesday, as this tech firm comes under intensity from regulators around the world over its professional carry-outs.
According to the report of Verge Facebook plans to proclaim the new name next week, quoting a source with a straight acquaintance of the matter. Facebook wants to be recognized for more than just social media, according to this reputed tech publication.
Though there is no confirmation from Facebook and the official also does not comment on such rumors or assumptions, recently a company spokesperson said in response to a question regarding the possible name change.
In accumulation to its flagship social media network, Facebook also owns Instagram and WhatsApp. A sudden name change could place these three top-rated mega-platforms under a brand, like an arrangement used by Google, which comes under the patent firm Alphabet.
What the name change of Facebook may reflect?
The brand name change may reveal Facebook’s trend. The metaverse states to determinations to combine fundamental and improved certainty technologies in a brand new online dominion.
Overall the idea is to generate a space alike to the internet, where users can walk around and cooperate with one another in real-time. In theory, users could sit around a fundamental conference table with distant colleagues, and then walk over to a virtual Starbucks to meet up with a friend.
Facebook proclaimed formerly this week that it would hire 10,000 people in Europe to work on constructing the metaverse.
A rebranding could be part of an exertion to renew Facebook’s character subsequent to a tsunami of bad news associated with misrepresentation on its platforms, content fairness disasters, and exposure to the destructive effect its products have on some users’ mental health.
Frances Haugen, a whistleblower who used to work at Facebook as a product manager, affirmed prior this month that the corporation is conscious that its platforms are used to spread hatred and distortion but has been unsuccessful to take action to stop it. Facebook’s leaders have come under fire for supposedly selecting turnover over health, and legislators have strained contrasts to Big Tobacco.
Facebook has belligerently pushed back against the claims, calling many of them “misleading” and in dispute that its apps do more worth than damage.
According to Verge, CEO Mark Zuckerberg strategies to deliberate the name change at the corporation’s yearly Unite session on 28th October.
A comparatively insignificant quantity of main firms has altered conventional brands. Kentucky Fried Chicken shortened its name to KFC, Japanese car brand Datsun became Nissan and the World Wrestling Federation became World Wrestling Entertainment. The social media corporation Snapchat rebranded as Snap-in 2016 to redirect its venture into hardware.
Some high-profile name deviations have charted scandals or disputes. Philip Morris, the maker of Marlboro, changed its name to Altria, for example, and ValuJet became AirTran after one of its planes crashed in 1996.