In the past year, Facebook rebranded itself as Meta, indicating its largest transition into the Metaverse. According to the most recent reports, Meta Inc (NASDAQ: Facebook) plans to launch virtual Zuck Bucks tokens, coins and lending services for its applications.
According to the report of Financial Times, Meta chief Mark Zuckerberg is exploring alternative revenue streams that can attract and retain customers. The company’s financial unit called Meta Financial Technologies – is planning to introduce an online currency called the Metaverse.
Recent Released: An ESG Friendly Bitcoin Launched by Intel [Bitcoin Mining Chips]
According to people who are who are familiar with the subject Meta’s employees within the company have been calling the currency “Zuck Bucks” for the moment.
But, sources say that this isn’t an cryptocurrency based on blockchain technology. In fact, Meta will be focusing its efforts on tokens in the app, which it will be able to manage centrally. It’s similar to the announcement of Roblox currency in the game application Roblox.
Meta’s division of finance Stephane Kasriel said:
Meta is also in the process of the creation of “social tokens” or “reputation tokens” as a way of reward Facebook group members for valuable contributions. Another idea is to create “creator coins” that are associated with certain influencers in Instagram, a photo sharing app. Instagram.
NFT sharing feature Coming to Facebook in mid-May:
Mark Zuckerberg has been bullish regarding the non-fungible tokens (NFTs) believing they could be a potential way to transact digital commerce and goods in the metaverse. Zuckerberg also stated that they will add support for NFTs within the company’s Instagram application.
People who are familiar with the situation say that Meta may launch a trial for sharing and posting NFTs on Facebook in the middle of May 2022. Later, it will try a feature that allows Facebook Group memberships for NFT owners as well as making new NFTs.
It’s not the first time Facebook is entering the world of virtual currency. In the year the year Facebook had plans for it’s Libra cryptocurrency, but it pulled the plan after a strong opposition from regulators.
Want to know more about Mark Zuckerberg Born, Height, Net worth, Spouse, Education, Children and more then visit Wikipedia Mark Zuckerberg official page.
Source: Google News Trend