California, Europe Brief News – Meta is reportedly exploring the idea to introduce ‘Zuck Bucks’ and this will be a virtual currency that the company’s customers will be able to use across its apps. People around the world are interested in capitalism and this is why more digital currencies are being introduced in the world.
According to Financial Times, tech giant Meta is looking to introduce a central in-app currency system. It will be shared across its various platforms that includes Facebook, Instagram, and WhatsApp. It seems like the declining popularity of Facebook is making Meta worried about the future of its finances.
They are looking for ways to diversify beyond ad revenue and wish to engage users.The digital currency will not be officially called “Zuck Bucks,” but this nickname was reportedly bestowed after the initiative taken by the internal employees in the Meta CEO Mark Zuckerberg.
It’s unclear exactly how this system will work. However, with a stroke of mercy, likely, the virtual currency will not be connected to the blockchain. It will operate more like the in-game currencies and would be utilized on mobile games.
Such currencies are available for purchase with real money. They can also be used to get access to the in-app tokens and cosmetics, like outfits to change the appearance of a video game character.
many ancient coins bear the visage of the issuing ruler…
(that or this is just insane)https://t.co/HkRwfppOyG— rat king (@MikeIsaac) April 6, 2022
Meta Will Not Distance Itself From Blockchain Products Due to Zuck Bucks
Meta will not distance itself from the blockchain products. They will look for ways to post and share a lot of NFTs on Facebook. According to FT the company will soon launch a pilot and start promoting it in mid-May. Soon after Meta will allow the members of Facebook groups to start minting NFTs.
Mark Zuckerberg has officially announced that NFT will soon come to Instagram. Additionally, they explore tokens and Diem currency. Both social and reputation tokens have their rewards. It will benefit investors as they get rewards for their meaningful contributions. The company will look for loans from small companies.
Lauren Dickson who is the spokesperson of Meta that they will consider new products. It will cater to the needs of businesses, creators, and people alike. They will work hard to build metaverses with the help of Facebook.
We will have to see how this new project between Mark and Meta turns out to be. Zuck Bucks will be one of a kind and will help Meta overcome their previous problems. It will make people understand what payments and financial services must be like.
