Meta, the parent company of Facebook, has launched its remunerative tools for selling digital assets on its virtual reality social platform Horizon Worlds. The new tool is now being tested on said virtual space, which is vital to the company’s plans to build its own metaverse.
According to Reuters, the Trade Tools feature will initially be available to select users of Meta’s immersive platform accessible using VR headsets. Once inside the virtual space, users can start selling virtual fashion items or offer paid access to other users to view certain parts of the digital world.
Besides the trade tool, Meta is also testing the “Creator’s Bonus” program for selected Horizon Worlds users in the United States. In this particular trial, the company will pay participants for achieving goals such as usage and adoption of new tools and features launched by Meta.
Horizon Worlds is a free-to-play virtual reality social platform with an integrated game creation system that was developed and released by Meta Platforms for its Oculus Rift S and Oculus Quest 2 in December 2021. Its Horizon Venues focus on digital events and metaverse spaces.
Anyway, Meta would also create its own virtual currency. In a previous report from Reuters, the company is reportedly preparing to introduce virtual tokens and cryptocurrencies into its apps. Virtual tokens could be used to reward creators, loans, and other types of financial services.
Once implemented, digital currency can also give Meta a new revenue stream channel and control transactions across its range of services and apps, including Instagram, Facebook, Meta Quest and WhatsApp.
Development of Meta’s virtual currency is still in its early stages, and it comes as the company works to build its metaverse where people can interact, work, and play.
Finally, while still in development, Meta’s cryptocurrencies are referred to as “Zuck Bucks”, which are intended for use in the Metaverse and other virtual worlds. It was added that it may be different from other cryptos as it will not be blockchain based.