Facebook has recently been in the news and unfortunately: it’s for all the wrong reasons. So much so, there might be a company rebranding happening soon. The Verge reported on October 19, that they have a source with direct knowledge on the matter who told them that the company is set to announce a Facebook rebrand before October ends.

The report included that an announcement for the Facebook rebrand could be made at the annual Connect conference held by Facebook on October 28th. or perhaps even sooner. There seems to be a direct connection between this news and CEO and Co-founder, Mark Zuckerberg’s focus on expanding the digital platform to a virtual environment involving augmented and virtual reality.

This news for the Facebook rebrand comes at the tail of all the investment Facebook has been making in manufacturing VR and AR hardware, such as glasses, wristbands, and headset devices. More than 10,000 employees are already involved in the team directly working on and expanding this technology.

“But you can think about the metaverse as an embodied internet, where instead of just viewing content — you are in it.” said Zuckerberg in an earlier interview to The Verge, talking about the metaverse and how it will evolve our relationship with technology.

There have been no official comments by the company board or executives regarding the Facebook rebrand but it will definitely impact the negative PR the social media giant has been getting since regulators started investigating and questioning the policies of the platform. Most recently, the company was summoned in the Senate to answer for the Wall Street Journal report on Instagram’s negative impact on teens.

 Frances Haugen, a whistleblower from Facebook submitted hundreds of pages to report on all the misconducts the platform has committed, including several complaints on how the company has violated security laws by lying to investors through omission of information.