Square Becomes Block. Is That a Move Toward the Metaverse?
Jack Dorsey's been busy. The tech visionary stepped down as CEO of Twitter on Nov. 29, and a day later, his other company announced it would soon change its name from Square to Block (NYSE: SQ), a move that's now official. This follows Meta Platforms' name change in October, from Facebook, in an effort to identify with the developing metaverse.
Is Square's new identity a deeper foray into the metaverse as well? And what does that mean for the company?
The fintech pioneer has evolved from its humble beginnings as a financial solutions provider for small businesses into a large organization targeting both businesses and individuals. Along the way, it's become a champion of cryptocurrency, specifically Bitcoin, as a native internet token. The next stage of the company's growth begins with its change in identity from Square, a name associated with its seller business, to Block, a name that goes beyond any of its building-block businesses but evokes a strong cryptocurrency feel.
Source Fool.com
