Meta is working on a new financial productaccording to anonymous sources of Financial Times. The internal nickname given by the employees would be “Zuck Bucks“, an informal way of saying” Zuckerberg’s money “if you like. Probably, however, it will not be a new attempt at cryptocurrency, but a virtual currency / token to be used in all the platforms of the company, such as Facebook, Instagram, Messenger, WhatsApp … And the metaverse, when it arrives.
The concept will be perfectly clear to those who have played video games with integrated currency, such as Fortnite with its V-Bucks, PUBG with UC (Unknown Cash), Roblox with Robux, Apex Legends with Apex Coins and so on. Simply, the currency is purchased with real money and can then be spent on the relevant platform. It’s a very common practice on online, gaming and non-gaming platforms – and profitable, above all. It is convenient for the user because it allows to limit the use of the credit card. The idea has proved very profitable over time.
The source says that Meta would stay even working on some sort of “reputation” currency or token, let’s say, to reward those who make useful contributions for example in group discussions. As we already know on Facebook there are badges like “most active fan”, but they are based purely on the number of interactions. This new initiative would be a little more articulated and based on merit, in a way not unlike mechanisms implemented in some forums, which evaluate the user based on the thanks or likes received from others.
In all this, Meta would not have completely abandoned the idea of investing in the blockchain. Although its project to create its own currency has definitively failed, due to the opposition of multiple authorities around the world, the company is said to be working on the possibility of show NFT on their social platforms – specifically, a user could set a token as a profile picture, for example, or build their own gallery of works.