Apparently, Meta is creating its own digital ‘Zuck Buck’. Lord help us

Meta, the company that owns Facebook and Instagram (opens in new tab), apparently has plans to introduce its own digital currency into the app that employees have started calling ‘Zuck Bucks’. The company is working on several new financial ventures, such as offering small business loans and NFT Facebook integration.

According to a report in Financial Times (opens in new tab), Zuck Bucks, named after Meta founder and CEO Mark Zuckerberg, will not be a cryptocurrency working outside the blockchain. It will be a token in the centrally controlled app, which the report compares to what you found in online games like roblox (opens in new tab).

It would work just like Facebook Credits at the time, which was your virtual currency used to buy stuff on FarmVille. Facebook closed Facebook Credits in 2013 after it was deemed very expensive to maintain (opens in new tab). Remember Farmville? It’s still around, but you don’t need one anymore Facebook account to play (opens in new tab).

Meta is looking at “social tokens”, which can be rewarded to users who make “significant contributions to Facebook groups”. According to internal documents, the idea is that users who make credible content can receive tokens as payment, allowing Meta to stop being a content moderator and giving Facebook communities more moderation power. ‘Creator coins’ is another digital currency linked to specific influencers on Instagram.

Meta is not moving away from blockchain despite recently killing Diem (formerly Libra) cryptocurrency project (opens in new tab) before it was even released earlier this year. A pilot program will be launched in May to allow you to post and share NFTs on Facebook. Next, we’ll test a feature that allows memberships to NFT owners and coinage groups on Facebook. The plan is for Meta to monetize NFT sales on Facebook through “fees and/or ads.”

A Meta representative said On the edge (opens in new tab), “We continually consider new product innovations for people, companies and creators. As a company, we are focused on building for the metaverse, including the look and feel of payments and financial services.”

goal suffered record losses (opens in new tab) since the rebrand for a variety of reasons, from Facebook’s dwindling popularity among young people to rivals like TikTok (opens in new tab) to Google’s privacy change limiting Facebook data tracking (opens in new tab). Makes sense. It explores new avenues of revenue just in case the entire The metaverse thing doesn’t work. (opens in new tab)

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