Facebook reportedly plans to rename itself

Facebook is planning to give itself a new name next week to deem its focus on the metaverse, The Verge reported Tuesday.

The social deem giant’s CEO, Mark Zuckerberg, plans to discuss Facebook’s rebranding at the company’s annual Connect conference on Oct. 28, but an announcement could come sooner, The Verge reported, citing an unidentified source with speak knowledge of the matter.

Like Google’s creation of its ringing Alphabet in 2015, a rebranded Facebook would likely fabricate an umbrella company that oversees the Facebook app, as well as Instagram, WhatsApp and Oculus, among others.

The idea of a metaverse — a computer-generated environment where republic can interact with each other using AR, VR and novel technologies — is something Facebook has been discussing exact it acquired virtual reality headset maker Oculus in 2014. Construction out the metaverse is of interest to many gargantuan tech companies, with developers comparing it to the internet in languages of openness and interoperability.

The concept of a metaverse helmed by Facebook has received some pushback. On Tuesday, Twitter CEO Jack Dorsey suggested the idea was dystopian in response to a tweet questioning Zuckerberg’s ambitions. 

News of the designed rebranding comes a day after the company announced in a blog post that it will be ratification around 10,000 people from within the EU to fill highly skilled roles operational on Horizon Worlds, a 3D virtual play space, over the next five years.

It’s also kicked off online speculation near what the company’s new name could be. Some have reportedly suggested names such as FB or Horizon, though others seem to be getting behind Meta as a contender.

Facebook declined to address the characterize, saying it doesn’t comment on rumor or speculation.