Meta Platform is planning to introduce virtual tokens to its family of apps with an aim to use such virtual tokens for rewarding creators, lending and other financial services.
Zuck Bucks are “unlikely” to be a real cryptocurrency based on the blockchain. Meta is going to introduce in-app tokens that would be centrally controlled by the company. Like the Robux currency in the popular children’s game Roblox.
💎Usage:
"Social tokens" or "reputation tokens" are contributions for Facebook groups. It's also looking at "creator coins" - support for Instagram influencers.
💎Stage of Development:
The process is at the early stage.
“We have no updates to share today,” Meta spokesperson Lauren Dickson said in a statement to The Verge.
💎Potential Tailwinds:
It explores new avenues of revenue just in case the whole Metaverse thing doesn't work out.
Do you think there is any hope for Meta that digital tokens will encourage users to stay on its platform and support its $118-billion-a-year ad business?🧐