As Meta continues to develop and extend the Metaverse concept using its resources and technology, the company wants to offer cryptocurrencies to users on social media platforms. According to reports, the company plans to introduce virtual coins, tokens and lending services to apps such as Facebook and Instagram. Let’s dig into the details and take a closer look at Meta’s financial plans and Zuck Bucks.
Report by Financial TimesTo quote a source familiar with this issue, Meta Financial Technology, the financial sector of Meta, We are planning to launch a virtual currency of Metaverse.. Cryptocurrency, Internally known as “Zuckerberg”, Will not be a cryptocurrency. Instead, it will be an in-app currency, similar to the cryptocurrencies found in online games such as Fortnite, Roblox and Valorant.
For those who don’t know, Meta has announced plans to launch its own cryptocurrency as part of Project Libra in 2019. However, after extensive criticism and scrutiny by political leaders, the company abandoned its crypto efforts earlier this year.
However, citing the declining daily user base on Facebook, Meta now wants to attract more users and content creators to social media platforms. Therefore, I am thinking of a new method. Therefore, the introduction of cryptocurrencies is not a surprising move by the company.
According to official notes and sources, Meta may activate “social tokens” or “reputation tokens” for users. These are reported to be offered as rewards to users who have made remarkable contributions to the Facebook Group. The company is also working on what is called a “creator coin”. Integrated into popular photo sharing platform Instagram future.
Beyond these, the report also suggests that Meta plans to launch more traditional financing services to help small businesses on its platform.This may include: Low interest rate business loan service for growing entrepreneurs In the digital space, the company had previously discussed its plans with potential lending partners, according to sources familiar with the matter.
Now, it’s worth mentioning that Meta’s “Zuckerberg” or its platform cryptocurrency plans are currently in the very early stages of development and debate. Therefore, some of these plans may be removed in the future. So stay tuned for the latest information on Meta’s crypto plans. Also, let us know what you think in the comments below.