Tuesday, May 17, 2022

Meta would be looking at a virtual currency called ‘Zuck Bucks’

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Meta is apparently considering creating “Zuck Bucks,” a virtual currency that customers can use across all of the company’s products. They must have heard that we support capitalism.

According to the Financial Times, Meta is considering implementing a centralized in-app money system that would be shared across all of its platforms, including Facebook, Instagram and WhatsApp. Meta seems concerned about the future of its finances due to Facebook’s declining popularity, forcing it to look for methods to diversify beyond ad revenue and better engage users.

While it’s not officially called “Zuck Bucks,” the in-house staff is said to have named the project in honor of Meta CEO Mark Zuckerberg.

It is uncertain how this system will function. However, due to a windfall, it is unlikely that this virtual currency will be linked to the blockchain. Instead, it is expected to work similarly to the in-game currency seen in many mobile games. Such currencies can often be purchased with real money and can be used to purchase in-app bonuses and cosmetics such as clothing to change the appearance of a video game character.

That’s right, microtransactions could get on facebook.

It is, of course, equally possible that this is not the case. According to reports, Meta’s money is still in the making and may never be implemented. When Editorialge inquired about the development, Meta refuses to confirm or deny it.

A Meta representative told Editorialge, “We don’t have any developments to share today.” “We are always thinking about new product ideas for individuals, companies and creators. We’re focused on creating for the metaverse as a business, including what payments and financial services could look like.”

It is rumored that Meta is also investigating the introduction of creator-specific coins associated with Instagram influencers, as well as tokens awarded to users who contribute to Facebook groups. While it’s possible that posting to Facebook groups may eventually pay off, it could mean connecting to the network to be social loses its luster.

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