META Starts Building Digital Economy For Horizon Worlds Creators

META starts building a digital economy for the creators in the Horizon Worlds and the fees could surge up to 70% in the virtual reality game so let’s read more in today’s latest cryptocurrency news.

Meta Platform’s digital economy rolled on Monday with some new tools for hawking virtual goods in the virtual reality game dubbed Horizon Worlds. A few creators will be able to sell virtual items and effects in their worlds according to Meta’s announcement. Canadians and Americans over the age of 18 will be able to buy these items.

Meta starts building a digital economy for its Horizon World creators and said it will reward the creators whose virtual worlds will prove popular among the users with a monthly bonus payout. The program will not be subject to fees and the virtual items marketplace can see Meta take up to 25% to 70% according to The Verge. The efforts only support Meta’s buildout of the infrastructure that underpins the digital economy and more monetization and incentivization features are coming along:

“These types of tools are steps toward our long-term vision for the metaverse where creators can earn a living and people can purchase digital goods, services, and experiences.”

The CEO Mark Zuckerbeg said:

“Clearly the ability to sell virtual goods and be able to take them with you from one world to another is going to be an important part.”

The language mimics the promise of the user-owned NFT but Meta’s monetization tools don’t have crypto elements to them yet.

Although Meta gave up on the plans to create the Diem stablecoin, it is still interested in creating new tokens for its metaverse. The Financial Times reports that Meta is exploring a centralized in-app token similar to ROBUX for the Roblox game. This means that it would not be a cryptocurrency but according to the reports, some Meta staffers are referring to the tokens as Zuck Bucks.

Citing company sources, Meta is considering creating new tokens for the metaverse and has plans for social tokens, creator coins, and reputation tokens. The publication warned that the discussion is still in its early stages and could change or even be dropped. The metaverse is an immersive version of the internet that incorporates virtual reality and augmented reality so the goal is to put forward in “Snowcrash” and “Ready Player One” which are onlien worlds that look like the real world with financial elements in them.