Following an announcement in July that Facebook would be embarking on a “metaverse” initiative, the social media giant has declared that the company’s new name will be “Meta.”

“Announcing [Meta] — the Facebook company’s new name,” Facebook announced on Twitter. “Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection.”

The name change was formally announced by Facebook CEO Mark Zuckerberg during the company’s virtual reality and augmented reality conference, Facebook Connect.

“I’ve been thinking a lot about our identity as we begin this next chapter. Facebook is one of the most used products in the history of the world,” Zuckerberg said, according to CNN. “It is an iconic social media brand, but increasingly it just doesn’t encompass everything that we do.