Facebook is planning to change its company name very soon to reflect its focus on building the metaverse, according to latest lowdown.

The new rebrand and name change, which CEO Mark Zuckerberg plans to talk about at the company’s annual Connect conference on October 28th, but could unveil much much sooner, is meant to signal the tech giant’s ambition to be known for more than social media and not for all the negativity that has surrounded it in recent times.

The Facebook rebranding would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more.

Facebook already has more than 10,000 employees building consumer hardware like AR glasses that Zuckerberg believes will eventually be as ubiquitous as smartphones.

In July, he told The Verge that, over the next several years, “we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.