Facebook ‘will change its name NEXT week’ after company slammed as ‘toxic’

FACEBOOK plans to change its company name as part of a rebrand expected to be announced in the coming days.

The name will focus on the “metaverse”, a virtual world where users can live, work and play, The Verge reported on Tuesday.

ReutersFacebook is planning to rebrand within days[/caption]

Embattled CEO Mark Zuckerberg is reportedly planning a formal unveil next Thursday at Connect, the company’s annual virtual reality conference.

It follows weeks of intense scrutiny of Facebook from regulators and lawmakers over its business practices.

The concept of the metaverse is quickly becoming a buzzword in technology and business.

It generally refers to shared virtual world environments which people can access via the internet.

The term can refer to digital spaces which are made more lifelike by the use of virtual reality (VR) or augmented reality (AR).

Some people also use the word metaverse to describe gaming worlds, in which users have a character that can walk around and interact with other players.

There is also a specific type of metaverse which uses blockchain technology. In these, users can buy virtual land and other digital assets using cryptocurrencies.

Many science fiction books and films are set in fully-fledged metaverses – alternative digital worlds which are indistinguishable from the real physical world. But this is still the stuff of fiction. Currently, most virtual spaces look more like the inside of a video game than real life.

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