In today’s world, cryptocurrencies are playing a pivotal role in many ways. It could be for future investment, increasing one’s net worth, or business development. Not only microenterprises but also big tech giants are stepping into this crypto world to achieve their kind of benefits. Yes, big businesses like Meta are coming forward to introduce digital coins ‘’Zuck Bucks” on Facebook, Instagram, and WhatsApp.
Customers can use virtual currencies across its apps. Though it has not been announced officially about “Zuck Bucks,” it was discussed among internal employees about the CEO of Meta- Marks Zuckerberg according to a report published in financial times.
HOW META IS INTRODUCING COINS INTO SOCIAL MEDIA PLATFORMS
According to Meta, it introduces creator-specific coins associated with Instagram influencers, and tokens are also issued for contributing to Facebook groups of users.
Even though the company is using Facebook groups, which is encouraging it indicates that they are only using this platform to socialize and interact. It might not be a resounding success.
The spokesperson of Meta told the digital media outlet Mashable that they are not updated with any news to share as a company.
They consider new innovative products for their customers, like people, businesses, and creators. They are also focusing on building the metaverse, which includes what payments and financial services will look like.
Some key points about META
- As per public opinion, the tokens of social platforms will be centrally controlled by Meta rather than blockchains.
- The introduction of digital currencies into the Meta app may be a company’s raid into NFTs.
- It is also considered that the invasion of digital tokens may be a service to boost its revenue through these alternative sources.
- Meta is also introducing small financial services like providing loans to small businesses and involving itself in the financial world.
- The metaverse revenue growth may globally decline as its social media users.
As per financial times, it was revealed that Meta is considering monetizing NFTs with fees or maybe ads. The social media company Twitter introduced NFTs to its platform in January, and while the microblogging site does not allow users to monetize the NFTs directly, it currently allows them for $ 2.99 per month NFTs have been displayed as profile pictures by Twitter Blue users.
TECH GIANTS REBRANDING THEMSELVES TO EXPLORE IN THE METAVERSE
Last year, Facebook rebranded itself into Meta and Microsoft planned to acquire Activision Blizzard for $69 billion to be a part of the expansion of Metaverse and with the ambition to be a prime mover in the new social networking world.
For many years, people have speculated about the existence of a RecRoom, a world-building game similar to Minecraft or Roblox, and augmented reality, virtual reality, and 3D computing.
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