But it is also expected to reorganize its business under a new name and possibly change the title of its co-founder Mark Zuckerberg, who will open the event with a keynote. The change could degrade Facebook to one of the company’s three major platforms – which also includes Instagram and WhatsApp – rather than an overarching brand.
A rebranding could also be part of an effort to improve Facebook’s reputation and turn the page over after a series of PR nightmares, including misinformation on its platforms, errors in content moderation, and revelations about the negative impact of its products on the mental health of some User.
On a conference call in July, Zuckerberg teased the concept of the metaverse as an internet-like space where users can walk around (via digital avatars) and interact with each other in real time. In theory, users could sit at a virtual meeting table with distant colleagues and then go to a virtual Starbucks to meet up with a friend.
“I expect people will move from a primary social media company to a Metaverse company in the years to come,” he said on the call.
