Snapchat has undergone a major change. The famous social media app has announced that it was has decided to change its name from Snapchat to Snap Inc. According to the company, the name change was a necessary step since the company is now more than just a social media app.

For the unaware, the company has lately been looking to expanding into new territories, and has launched its own smart sunglasses called Spectacles. The sunglasses will be sold at $129 per pair, but unfortunately, will only be a limited distribution.

The company announced about the name change in an article in the Wall Street Journal. Prior to this, Business Insider has also hinted about Snapchat considering a name change.

Though no official date has yet been announced for Snapchat’s Spectacles, there are billboards coming up all over America, suggesting that the launch can be expected to happen anytime soon.

Snapchat’s Spectacles will be capable of recording 10-second clips of video through its mag initiative 115-degree-angle lens. This makes it the most close to the human eye instead of traditional cameras. Instead of recording the video in the common square or rectangular field, the Spectacles will record in a circular field. The videos recorded through smart glasses will be wirelessly transferable to the user’s smartphone, so that they can easily share it with their friends on the Snapchat app.

According to the Journal report, the smart glasses are expected to hit the markets in three colors: coral, teal, and the classic black. The company has apparently invested a lot of time in developing the Spectacles. The company is taking a slow approach in rolling out the smart glasses, and hence for now they will only be having a limited distribution of the glasses.

Let’s see how Snapchat’s Spectacles fits into people’s lives and how much they like it.