According to billionaire and tech entrepreneur, Mark Zuckerberg who said that the name change is meant to turn the platform into a dominant force in technology as opposed to a “social media site”.
He added that the app itself will retain the name ‘Facebook’ but the company will be rebranding to help its public image.
“It is time for us to adopt a new company brand to encompass everything that we do," Zuckerberg said at the company's Connect virtual reality conference. "From now on we're going to be metaverse first, not Facebook first."
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