Meta has drawn up plans to introduce virtual currency, tokens and lending services into its applications as Facebook’s parent company pursues its financial ambitions, despite the collapse of a cryptocurrency launch project.
Specifically, Meta wants to make its own virtual currency, which is not related to blockchain or digital currencies, but which could be used as a currency in the company’s applications. The American giant, which owns products such as Facebook and Instagram, is evaluating the introduction of a virtual currency in the future metavers and its own applications.
“Zuck Bucks” would be called, among the company’s employees, the new virtual currency. It is unknown at this time what he will do after leaving the post.
The new virtual currency will be called Zuck Bucks
According to the Financial Times, Meta was inspired by Roblox, which raised a lot of money using Robux currency in its gaming products. Moreover, Zuck Bucks is not the only idea Meta is exploring in the product. The American company is going to launch more financial products through which to diversify and increase its sources of income.
Another Meta project is the launch of so-called social tokens, with which it would reward its users for various activities within the company’s social platforms and the future metaves. Meta could also offer traditional financial products, such as small business loans. Another financial project of the company is considering NFTs. In May, Meta will launch support for posting and sharing NFTs on Facebook.
The company recently sought to find other sources of revenue and support e-commerce on the platform, delving into the field of cryptocurrencies and blockchain technology. Its big technology rivals, such as Google and Apple, have been more cautious about diving into the developing field.