According to technology website The Verge, Facebook CEO Mark Zuckerberg plans to discuss the name change at the company's annual Connect conference on October 28.
Earlier, Facebook announced that it would create 10,000 jobs in Europe for the Metavers project.
Facebook CEO Mark Zuckerberg has previously spoken of Metavers as an attempt to bridge the gap between the real and digital worlds.
What is Metavers?
According to the BBC, Metavers will be an online world where people will be able to work and communicate in a virtual environment in addition to playing games through a VR headset. The concept of Metavers is being seen as the future of the Internet.
Experts and analysts say that the second major invention by technology companies will be Metavers, which is still the subject of much debate. The concept is attracting the attention and resources of technology giants such as Mark Zuckerberg of Facebook and Tim Sweeney of Epic Games.
Some people think that Metavers is the future of the Internet, while for the general public it may just be a better version of virtual reality.
It is seen as a virtual reality and the idea is that it can make as much difference as the low-end mobile phones of the 1980s and the smartphones of today.
Unlike virtual reality, which is currently used for most gaming, the virtual world can be practically used for anything like work, games, concerts, cinema and gossiping outside.
Most people think that you will be able to get a 3D avatar that will represent you, that is, the way you want to use it.
News has surfaced about the name of Facebook, the favorite application of countless social media users.
According to The Verge, there are plans to rename Facebook as it has grown from a social media application to a digital world.
Facebook continues to make interesting changes to its application every day, while it is now being said that the company is considering renaming Facebook, which will represent Metavers (a world of fantasy or reality).
Facebook's name is expected to be decided at the annual conference on October 28, chaired by Mark Zuckerberg.
According to media reports, the name change has been decided to save Facebook from controversy.
According to reports, the name of Facebook will be changed this month, while the Facebook logo is also likely to be changed, but in this case, users will not face any problems in using the app.
Facebook, the most popular social networking site, plans to reintroduce itself next week with a new name.
According to a report by the British news agency 'Reuters', The Verge made the claim quoting sources who were directly aware of the matter.
The senior's report on the plan to talk about Facebook's chief executive officer (CEO) Mark Zuckerberg change in the company's annual Connect conference on October 28 and is soon to come.
The news comes at a time when the company is facing increasing scrutiny from the US government over its business practices.
Lawmakers from both US political parties have questioned the company via Facebook, citing growing anger in Congress.
The rebranding will introduce Facebook's social media app as one of several products under a parent company that will oversee Instagram, WhatsApp, Oculus and others, The Verge reports.
Keep in mind that it is not uncommon in Silicon Valley for companies to change their names because they do so to expand their services.
Google founded Alphabet Inc. in 2015 as a holding company to move beyond its search and advertising business, from its autonomous automotive units and health technology to various other projects to provide Internet services in remote areas. To monitor
According to the report, the site's rebranding initiative will reflect Facebook's focus on building an so-called Metavers, an online world where people can use a variety of tools to move and communicate in a virtual environment.
Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and intends to connect its nearly billion users through a variety of devices and apps.
Yesterday, Facebook's management said that it was building a new Internet system 'Metavers' that would provide employment to 10,000 people in Europe over the next five years.
Mark Zuckerberg has been talking about this since July this year, and the word was first used three decades ago in a science fiction novel (dystopian novel), which is also cited by other technology firms.
The Verge report states that the possible name of the company may be related to Horizon.
Recently, Facebook changed the name of its underdeveloped VR gaming platform from 'Horizon' to 'Horizon Worlds'.
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