The firm have been working on a pair of augmented reality spectacles with the codename "Orion", which will reportedly be able to be used in the place of a smartphone as they will be able to take calls and come with a "a small display" screen, as well as a camera and live stream capabilities.
However, according CNBC, the social media network has also teamed Luxottica, who make the popular fashion glasses, on another set of smart glasses, which will likely be released between 2023 and 2025, and look set to be more trendy looking.
According to The Information, this set has been given the codename "Stella".
Facebook will follow in the footsteps of Snapchat by launching their smart glasses.
In August, Snap revealed their third edition of video-recording glasses.
The company, which owns Snapchat, unveiled Spectacles 3, which come in at the cost of $380, their most expensive set to date.
The new lenses let the owner record from two cameras and come with a steel wire frame instead of plastic.
The latest glasses are available to pre-order now and are due to be shipped in autumn.
The second edition of the company's wearable technology were priced at $150.
As well as including the capability to take photos rather than just video, and adding the ability to work underwater, they also have prescription options.
The original glasses sold just 200,000 pairs.