Facebook Plans To Rename, Rebrand & Focus On Becoming A Metaverse

APRIL 8, 2018: Phone sitting on laptop with Facebook desktop site reflecting on screen. The social media giant's stock has dipped sharply since the Cambridge Analytica scandal.
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Rumours have been swirling in the tech world that Facebook is about to rebrand and change its name in an attempt to cement itself as more than just a social network.

The Verge has reported that founder and CEO, Mark Zuckerberg is suspected to be announcing the highly anticipated name change at the company’s annual connect conference, which will be held at the end of October.

According to The Verge, the rebrand comes as Zuckerberg wants to diversify the tech company and be known for creating a metaverse, rather than just a social network.

The rebrand will assumedly set Facebook up as just one offering from the tech company, a move that is set to turn Facebook into a metaverse – basically, the company plans to expand its offerings, naturally, the new offerings are yet to revealed. 

Interestingly, it seems Facebook has been slowly working towards this move for a while. Currently, it has over 10,000 employees building consumer hardware like AR, indicating Facebook might be gearing up to embrace new technology.

The social network has been around for over fifteen years now and has changed the way people connect worldwide. While the social media platform may be widely criticised, it is also highly used, according to Oberlo, Facebook has 2.80 billion monthly active users.

Facebook has had a controversial few years with allegations mounting that Facebook spreads misinformation. The Times, reported that a report by the advocacy group Avaaz found that if Facebook had acted quicker on changing its algorithms, the tech company could have prevented billions of views on pages that shared misinformation on the US election.

If that wasn’t enough drama for Facebook, there was also a Senate hearing held earlier this month, with the Facebook whistleblower, Frances Haugen arguing the brand harms young people.

Haugen has previously appeared on the American interview show, 60 minutes, where she revealed her identity and said: “The thing I saw at Facebook over and over again was there were conflicts of interest between what was good for the public and what was good for Facebook.

“Facebook over and over again chose to optimize for its own interests, like making more money.”

Facebook has denied these allegations.

So perhaps a new name could also be the start of a new image for Facebook, one less known for spreading electoral misinformation. So far the internet seems apprehensive about the rebrand, still, amongst the criticism, there are still fans of the potential change. 

Naturally, Twitter has a lot of opinions, many citing Facebook needing to change the way it functions. before it rebrands, Senator, Marsha Blackburn, wrote: “Facebook can change their name, but it doesn’t make a difference until they change their habits of prioritizing profit over the wellbeing of children.”

However, on the other side of the internet crypto coin, some Twitter users have called the move “fearless.”

However, in lighter news, Twitter also offers plenty of potential name suggestions, such as Assbook or Big Brother, if the platform does rebrand. 

Zuckerberg has yet to comment.

Featured image source: iStock/David Tran

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