Facebook announces changing company name to “Meta” as part of a major rebrand. The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.
“It is time for us to adopt a new company brand to encompass everything that we do,” Facebook CEO Mark Zuckerberg said at the company’s Connect virtual reality conference.
“From now on we are going to be metaverse first, not Facebook first,” Zuckerberg added.
The word “meta” comes from the Greek word meaning “beyond”.
To an outsider, a metaverse may look like a version of VR, but some people believe it could be the future of the internet.
Instead of being on a computer, people in a metaverse might use a headset to enter a virtual world connecting all sorts of digital environments.
It is hoped the virtual world could be used for practically anything from work, play and concerts, to socialising with friends and family.
Facebook said it intends to start trading it shares under the new stock ticker MVRS from 1 December.