Facebook’s parent COMPANY, Meta, is exploring the potential of digital money referred to internally as Zuck Bucks in the founder’s name game. The Financial Times reported that, Wednesday (6/4).
Meta abandoned its efforts to create a global cryptocurrency — first called Libra but eventually rebranded as Diem — in the face of a backlash from financial regulators around the world. However, founder and head Mark Zuckerberg has spoken about the importance of e-commerce and financial tools in his vision for an immersive online world called the metaverse.
“We are constantly considering new product innovations for people, businesses and creators,” a Meta spokesperson said in response to AFP. “As a company, we focus on building the metaverse and that includes things like payments and financial services.”
The spokesman would not comment on the specific innovations being pursued. Products considered at Meta include digital tokens similar to those used for transactions in video games, with the internet company’s version being dubbed Zuck Bucks by those working on it, according to the Financial Times.
Popular games like Fortnite and Roblox use tokens for transactions. Tokens can potentially be used to reward creators and influencers whose posts attract an online audience.
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Meta wants to diversify its revenue beyond reliance on targeted advertising. This has sparked concerns about breaches of user privacy. (AFP/OL-14)