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Facebook parent looking at Zuck Bucks for the metaverse, report says

36908 facebook parent looking at zuck bucks for the metaverse report says

Meta Platforms’ financial arm, Meta Financial Technologies, has been exploring the creation of a virtual currency for the metaverse, the Financial Times reported, citing people familiar with the matter. So-called “Zuck Bucks” would be in-app tokens controlled by the company, rather than a cryptocurrency on the blockchain, the report said, which is similar to the Robux currency in Roblox . Meta is also looking into the creation of tokens and coins to reward influential Facebook or Instagram users, the report added. Meta Platforms shares have slumped 34% this year, which is worse than the 6% drop for the broader S&P 500.

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Source: Marketwatch

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