Facebook plans to announce a rebranding and name change to focus on building the "metaverse" at its annual Connect conference on October 28th. The metaverse refers to a future version of the internet that combines digital, physical, and virtual worlds, allowing users to meet, work and share virtual spaces using technologies like virtual and augmented reality. Facebook has invested $50 million to build out the metaverse and plans to create 10,000 new jobs in Europe over the next five years focused on its development. While still in its early stages, the metaverse could fundamentally change how people interact and use technology through virtual avatars and shared virtual environments across gaming, work, social media and more.

1. Join the metaverse: The
virtual world that
Facebook's Zuckerberg is
creating

2. Facebook plans to rebrand itself as a
agency targeted name on constructing the
metaverse, consistent with The Verge
website.
Chief Executive Officer Mark Zuckerberg is
predicted to announce the name at the
organisation’s Connect conference on
October 28. What is 'metaverse' though?
The term become coined through sci-fi
novelist Neal Stephenson in 1992 to
explain a future dystopian global of digital
fact, the net, social media and different
technologies. With Facebook that
specialize in digital truth and bringing its
houses like Instagram and WhatsApp
beneath one umbrella, one may
additionally take the cue that the tech large
is aiming to be more than just a social
media agency.

3. Facebook devoted in September $50
million in the direction of constructing a
metaverse in which people can meet and
percentage space. It has introduced plans
to create 10,000 new high-skilled positions
inside the European Union over the
subsequent five years to build the
metaverse.
Facebook is not the primary tech massive
to overhaul its identification. Google, in
2015, did an overhaul to turn out to be a
conglomerate under a figure corporation
which it referred to as Alphabet.
Facebook is below fire from regulators,
lawmakers and activists within the US.
Whistle-blower Frances Haugen has
shared lots of company files with regulators
and the Wall Street Journal. The files
certain Facebook’s war with moderating its
content and alleged deleterious mental-

4. health results of its picture-sharing app
Instagram, Bloomberg said. A rebranding
exercising is just what Facebook needs.
A metaverse could trade how we see
technology. It is likely to be a digital global
connecting work, play, conferences, and
extra. After Oculus digital reality (VR)
headsets, Facebook is likewise building VR
apps for social hangouts and for the place
of job, which includes ones that engage
with the real global.
We might also have visible tiny bits of ways
the Metaverse experience could be,
considering multiplayer games including
Fortnite and Pokemon Go have given us a
sneak peek into the virtual world.
Facebook has been experimenting with a
VR meetings app called Workplace, and a

5. social space known as Horizons, both of
which use their digital avatar structures.
This way that we can also have our virtual
avatars becoming a member of workplace
meetings, assembly people on line, or
even buying on-line but in a new way. It’s
not clear how long all of it will take but it
looks as if Facebook desires to hush up
the system.
Besides, it’s now not lengthy that other
tech giants leap the bandwagon, Google
and Amazon are already making an
investment in innovations that might prove
important to the development of the
metaverse.
Fortnite maker Epic Games currently
completed a $1-billion spherical of
investment, inclusive of an extra $two
hundred million in strategic funding from

6. Sony Group Corporation, to construct its
metaverse.