Meta Starts Building a Digital Economy for Creators in Horizon Worlds

Fees could soar as high as 47.5% in the Meta-owned virtual reality game.

AccessTimeIconApr 11, 2022 at 10:52 p.m. UTC
Updated Apr 12, 2022 at 2:14 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Meta Platforms’ (FB) digital economy got rolling Monday with new tools for hawking virtual goods in the social media giant’s virtual reality game, Horizon Worlds.

A “handful” of creators will be able to sell “virtual items and effects” in their respective worlds, Meta said. Only Americans and Canadians above the age of 18 will be able to purchase those items.

Separately, Meta said it would reward creators whose virtual worlds prove especially popular among users with monthly bonus payouts. That program will not be subject to fees; the virtual items marketplace could see Meta take a cut of anywhere from 25% to 70%, according to The Verge.

The twin efforts showcase Meta’s early buildout of the infrastructure underpinning a digital economy. Yet more monetization and incentivization features are on the way, it promised.

“These types of tools are steps toward our long-term vision for the metaverse where creators can earn a living and people can purchase digital goods, services, and experiences,” a Meta blog post read.

“Clearly the ability to sell virtual goods and be able to take them with you from one world to another is going to be an important part” of the future metaverse, CEO Mark Zuckerberg said in a video published alongside the reveal.

That language mimics the promise of user-owned non-fungible tokens (NFT). But Meta’s monetization tools don’t have any crypto element to them – at least not yet.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Trending

1
CoinDesk - Unknown
Former JPMorgan Banker Samir Shah Becomes COO at Pantera Capital

Shah joins Pantera after 12 years at JPMorgan spanning roles in sales, strategy and digital.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Asia: Bitcoin Rebounds Past $20K; China’s Blockchain Revolution Is Missing On-Chain Data

Ether and most other major altcoins regain ground they'd lost in last week's downturn; China companies seem unconvinced by blockchain technology.

CoinDesk - Unknown
3
CoinDesk - Unknown
NFT Platforms Should Be Caught by EU Money-Laundering Overhaul, Lawmakers Say

Unhosted wallets and decentralized finance were left largely unscathed by two landmark crypto laws agreed to last week, but left-wing lawmakers may seek another go as they discuss dirty-money rules.

CoinDesk - Unknown
4
CoinDesk - Unknown
Bitcoin se recupera y supera los $19K; Nomura advierte de una recesión en EE. UU. y Reino Unido

Nomura escribió acerca de una recesión en la eurozona, el Reino Unido y Asia Pacífico, lo que podría influir en los precios de las criptomonedas.

CoinDesk - Unknown