Meta, the company that owns Facebook and Instagram (opens in new tab), apparently has plans to introduce its own in-app digital currency that employees have started calling ‘Zuck Bucks.’ The company is reportedly working on several new financial endeavors like offering small business loans and NFT integration on Facebook.
Meta is looking into “social tokens,” which can be rewarded to users who make “meaningful contributions to Facebook groups.” According to internal documents, the idea is that users who make credible content can be given tokens as payment, allowing Meta to step away from being a content moderator and giving Facebook communities more power in moderating themselves. ‘Creator coins’ is another digital currency tied to specific influencers on Instagram.
Meta isn’t shying away from the blockchain despite recently killing off its Diem (formerly Libra) cryptocurrency project (opens in new tab) before it even launched earlier this year. A pilot program will launch in May to let you post and share NFTs on Facebook. Next will be testing a feature allowing memberships to NFT owning and minting groups on Facebook. The plan is for Meta to monetize the sales of NFTs on Facebook via “fees and/or ads.”
A Meta rep told The Verge (opens in new tab), “We continuously consider new product innovations for people, businesses, and creators. As a company, we are focused on building for the metaverse, including what payments and financial services might look like.”
Meta has suffered record losses (opens in new tab) since the rebrand for various reasons, from Facebook’s dwindling popularity among young people to rivals like TikTok (opens in new tab) to Google’s privacy change limiting Facebook’s data tracking (opens in new tab). It makes sense. It explores new avenues of revenue just in case the whole Metaverse thing doesn’t work out. (opens in new tab)
Jorge is a hardware writer from the enchanted lands of New Jersey. When he’s not filling the office with the smell of Pop-Tarts, he’s reviewing all sorts of gaming hardware from laptops with the latest mobile GPUs to gaming chairs with built-in back massagers. He’s been covering games and tech for nearly ten years and has written for Dualshockers, WCCFtech, and Tom’s Guide.
The meticulously well-curated kitchen of someone who doesn’t have the time of day for anyone else.Screenshot: Witch Beam The game that’s all the rage this week isn’t a glimmering racing game or a gritty first-person shooter. It’s not a massive expansion to a beloved life sim. No, the game of this moment is a delightful …
Screenshot: Microsoft/ 343 Industries / Kotaku Every Tuesday, the Halo Infinite store refreshes with a new stock of items and armor to help your Spartan stand out in the battlefield. For the most part, it’s the sort of borderline bro-y stuff you’d expect: ammo belts, additional visor colors, decals, what have you. More recently, the …
Sky: Children of the Light (Free) from thatgamecompany begins 2022 strong with a brand new season adding in a new ability. The Sky: Children of the Light Season of Abyss (no relation to the Slayer album with a similar name) is live from now and it is set in a new area in Golden Wasteland. …
Today, Grinding Gear Games unveiled tons of details about the upcoming Scourge expansion during a stream presentation. Many of the aspects you’re probably expecting from most leagues are on full display here, including a massive risk/reward system that has you fueling your items with demonic corruption. In fact, you’re fueling everything with corruption here as …
When Gran Turismo 7 launched, it marked the release of another great entry in the long-running simulation racing franchise. However, after some time, players began to realize that cars in GT7 cost a lot more in-game credits than previous games. Furthermore, after an update that decreased credits and rewards earned for some races took the …
There have been a few tweaks and events for Final Fantasy VII: The First Soldier since it first landed on the Play Store at the end of last year. And now it’s gearing up for the launch of its second season. Because seasons are a thing in games now. Season two is called Dominate The …
Meta Is Apparently Creating Its Own Digital ‘Zuck Buck’. Lord Help Us
Meta, the company that owns Facebook and Instagram (opens in new tab), apparently has plans to introduce its own in-app digital currency that employees have started calling ‘Zuck Bucks.’ The company is reportedly working on several new financial endeavors like offering small business loans and NFT integration on Facebook.
Meta is looking into “social tokens,” which can be rewarded to users who make “meaningful contributions to Facebook groups.” According to internal documents, the idea is that users who make credible content can be given tokens as payment, allowing Meta to step away from being a content moderator and giving Facebook communities more power in moderating themselves. ‘Creator coins’ is another digital currency tied to specific influencers on Instagram.
Meta isn’t shying away from the blockchain despite recently killing off its Diem (formerly Libra) cryptocurrency project (opens in new tab) before it even launched earlier this year. A pilot program will launch in May to let you post and share NFTs on Facebook. Next will be testing a feature allowing memberships to NFT owning and minting groups on Facebook. The plan is for Meta to monetize the sales of NFTs on Facebook via “fees and/or ads.”
A Meta rep told The Verge (opens in new tab), “We continuously consider new product innovations for people, businesses, and creators. As a company, we are focused on building for the metaverse, including what payments and financial services might look like.”
Meta has suffered record losses (opens in new tab) since the rebrand for various reasons, from Facebook’s dwindling popularity among young people to rivals like TikTok (opens in new tab) to Google’s privacy change limiting Facebook’s data tracking (opens in new tab). It makes sense. It explores new avenues of revenue just in case the whole Metaverse thing doesn’t work out. (opens in new tab)
Jorge is a hardware writer from the enchanted lands of New Jersey. When he’s not filling the office with the smell of Pop-Tarts, he’s reviewing all sorts of gaming hardware from laptops with the latest mobile GPUs to gaming chairs with built-in back massagers. He’s been covering games and tech for nearly ten years and has written for Dualshockers, WCCFtech, and Tom’s Guide.
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