12 Apr 2022 · 2 min read

Meta Begins Testing ‘Tools’ for Metaverse ‘Digital Asset’ Sales

Source: AdobeStock / Rokas

 

Meta, the company formerly known as Facebook, may have turned its back on its once-grand stablecoin plans, but it is far from done with digital forms of money – with its metaverse pivot leading it to create “tools” that will let its users sell “digital assets.”

Per Reuters, the firm is now “beginning to test tools” that will allow an “initial” “hand-picked set of users” to sell “digital assets and experiences” on the company’s virtual reality platform Horizon Worlds.

The users in question are currently involved in “creating virtual classes, games, and fashion accessories” on Horizon World.

Horizon Worlds is a metaverse space that makes use of VR and requires users to use special VR headsets. The company is also developing Horizon Venues, a space that allows digital access to virtual events.

One of the new solutions allows the group of users to sell accessories and grant paid access to VR digital spaces they have constructed, while a new “creator bonus” is being offered to “a small set of Horizon Worlds users in the United States.” This bonus will see Meta itself pay participants on a monthly basis for using some of the new features it rolls out.

The Meta Founder and CEO Mark Zuckerberg addressed a group of early adopters at an event held in Horizon Worlds using avatars, where he stated:

“We want there to just be tons of awesome worlds, and in order for that to happen there needs to be a lot of creators who can support themselves and make this their job.”

The project may be linked with plans leaked earlier this month to develop “virtual coins” for use on Meta’s platforms – allegedly dubbed “Zuck bucks” by company staff.

Reports circulated last week in UK media outlets explained that “users of Facebook and Instagram” would be able to use the coins “as part of a suite of products designed to reduce” Meta’s “dependence on advertising in the future metaverse.”

Meanwhile, the Verge reported that Meta’s pilot involves the company taking a 25% cut of the virtual experiences and items that creators sell in its digital space – on top of possible platform fees charged by its own stores or third-party platforms.

Vivek Sharma, Meta’s Vice President of Horizon, was quoted as saying of the charges:

“We think it’s a pretty competitive rate in the market. We believe in the other platforms being able to have their share.”

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