The Name of the Metaverse
Tomorrow, October 28, Facebook’s new name and branding will be announced finishing the whole era and giving a bright start to the new one
Facebook getting new name as far as changing its whole branding is hundred percent related to the metaverse plans of Mark Zuckerberg, company representatives state. The Facebook Annual Connect conference is a perfect scene for such a big milestone to be announced.
According to Zuckerberg, Facebook and its numerous products will soon be perceived by users as “a metaverse company” instead of a “social media company”. Thus, the new branding might gather the best features of Facebook and other popular products under the parent company including Instagram, WhatsApp, and Oculus.
Following the recent publication of internal documents and investigations as far as statements of former employees and problems in platform operations, rebranding might be the only way for regaining customer trust and attention.
Rebranding and renaming in accordance with company focus expansion is a common path on the tech market. Over the last five years such companies as Google, Snapchat, and TransferWise went through it. Yet, the Facebook case could possibly implement greater naming changes as the company is currently working on emerging technologies including AR and VR. Some experts predict Facebook to becoming Horizon-ish.
The naming and the right naming is actually where the whole company strategy and concept start. Some brands choose wider and generalized names that include all the potential growth scenarios as the whole rebranding matter is a tough period for both company and clients getting used to the new branding reality. Some brands go for a neologism that is filled with different concepts and allusions for a broader adoption and recognizable marketing positioning. This is exactly the Quppy case. While building a whole financial, payment and investment ecosystem, the brand needed to stand out with both unique range of services that provides a unique personal banking experience to its customers and with a unique name that would be both global and outstanding. The name “Quppy” seeming very unusual and familiar at the same time to most language groups actually refers to “quick pay” and highlights the easy-in-use and fast transactional features of the whole ecosystem. “I love this imagination game behind our naming, — states the Quppy CEO Dmitry Nikiforov, — as while trying to read the name every user learns it, remembers and builds the whole chain of personal interconnections around these letters and sounds”.
Although Facebook has been actively promoting the idea of the metaverse these weeks, the concept is still quite unclear. The term was coined by science fiction writer Neil Stevenson to describe a virtual world where people escape from a dystopian, the real world. Now it is being implemented by one of the largest and most controversial companies in the world, and its Head will have to explain why it is worth diving into its own virtual world.