Face book is planning to change its company name and reflect its focus on building the metaverse.The idea behind the metaverse is to create a space similar to the internet where users (digital avators) can interact with each other in real time.
The coming name change, which CEO Mark Zuckerberg plans to talk about in its annual conference on October,28 but could unveil sooner.
In July, Zuckerberg told that over the next few years,”we will effectively transition from people seeing us a social media company to a metaverse company.”
This could be interesting, particularly in the context of Facebook’s ongoing development . Face book develops a new machine learning process called “Anticipative Video Transformer(AVT)” that can predict future process and help guide activity.
Face book isn’t the first well-known tech company to change its company name as its ambitions expand. Google for example rebranded under a holding company called alphabet back in 2015. Snapchat rebranded to snap Inc in 2016, the same year it started calling itself a “camera company.” But facebook which is already a well-known platform with such a huge market presence, to switch to the metaverse concept which no one really knows, seems a little weird.
There must be some other corporate considerations for such a change that are beyond the knowledge of general public but its out of depth that Zuckerberg’s social giant under another banner.
Zuckerberg flagged his intention that he envisions facebook becoming ‘a metaverse company’.
Facebook announces marketing insights sessions for advertising week. Advertising week is being held in New York, next week and facebook will be running seven sessions in total for advertising week looking at various aspects of digital marketing.
Facebook already have 10,000 workers in the company but just a couple of days ago facebook announced to hire 10,000 more employees to work on the metaverse in Europe. I think that this is going to be a big part of the next chapter for the way that internet evolves after the mobile internet. The metaverse is going to be a big focus. Complicating matter is that facebook is promoting the idea of metaverse in recent weeks its still not a concept that is widely understood.