Facebook is likely to reveal a new brand name next week. More focus is to be laid on building the metaverse. The company is scaling up to be more than just a social media platform.

Big news awaits the world as Facebook unveils plans for rebranding. The company is now expanding into new horizons that go beyond being just a social media platform. Head of AR and VR, Andrew Bosworth is also likely to be promoted as chief technology officer.

The company name is likely to be changed in the upcoming week and will be rebranded with a title that gives more significance to the metaverse establishment.

From July Zuckerberg has been talking about creating 10000 jobs in the EU in the coming 5 years to create the meta-verse.

The metaverse is a virtual environment where people will be utilising various devices for communication. According to Zuckerberg, people will live, work and play within the metaverse and the future of Facebook will be right there.

No one company will own and operate the metaverse,” Nick Clegg, Facebook’s vice president of global affairs, mentioned in a blog. “Bringing this to life will take collaboration and cooperation across companies, developers, creators and policymakers. We look forward to working with governments across the EU to find the right people and the right markets to take this forward, as part of an upcoming recruitment drive across the region.

“We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”

The metaverse is going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet, Zuckerberg added, “And I think it’s going to be the next big chapter for our company too, really doubling down in this area.

Though not confirmed, it is expected that the name will be unveiled during the company’s annual Connect conference on October 28^th. We can also expect this grand announcement to take place any time next week.