Social media giant, Facebook has changed its name to Meta.

Facebook made the statement on its official social media pages.

According to Facebook chief, Mark Zuckerberg, the parent company’s name is being changed to “Meta” to represent a future beyond just its troubled social network.

Speaking during the annual developer conference, he said, “We’ve learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we’ve learned and help build the next chapter.

“The metaverse is the next evolution of social connection. It’s a collective project that will be created by people all over the world, and open to everyone. You’ll be able to socialize, learn, collaborate and play in ways that go beyond what’s possible today.

“Whether you’re imagining feeling closer to your long-distance family members or dancing with your friends wherever they are, share your vision for the future in the comments below.”