Tech

Meta Is Reportedly Developing Its Own Virtual Currency Called "Zuck Bucks"

But won’t exactly be categorized as cryptocurrency.

By
2,666 Hypes

Meta Is Reportedly Developing Its Own Virtual Currency Called "Zuck Bucks"

But won’t exactly be categorized as cryptocurrency.

Mark Zuckerberg is reportedly working on his own virtual coins. According to Financial Timesthe Meta founder, chairman and CEO’s upcoming project has been dubbed “Zuck Bucks” by his employees.

Zuckerberg has stated that Zuck Bucks won’t exactly be a cryptocurrency. “Instead, Meta is leaning towards introducing in-app tokens that would be centrally controlled by the company, similar to those used in gaming apps such as the Robux currency in popular children’s game Roblox,” as per FT. Additionally, the company is testing out “social tokens” or “reputation tokens,” which “could be issued as rewards for meaningful contributions in Facebook groups, for example.”

Meta will also start posting and sharing NFTs on Facebook this coming May, followed by testing “membership of Facebook groups based on NFT ownership and another for minting” NFTs. “We continuously consider new product innovations for people, businesses, and creators. As a company, we are focused on building for the metaverse and that includes what payments and financial services might look like,” Meta spokesperson Lauren Dickson told The Verge

Stay tuned while we wait for more details to surface.

Read Full Article
Source
Financial Times
Share this article

What to Read Next

Facebook Is Now Called "Meta"
Tech

Facebook Is Now Called "Meta"

The company is expanding beyond social media and diving into virtual reality.
972 Hypes

Pantee Calls Out Meta for Deeming People in Underwear as Sexual Content
Fashion

Pantee Calls Out Meta for Deeming People in Underwear as Sexual Content

“Our society, especially social media platforms, automatically sexualize images of women.”
806 Hypes

Meta Is Reportedly Working On Its Own AR Glasses
Tech

Meta Is Reportedly Working On Its Own AR Glasses

With the ability to communicate and interact with holograms.
394 Hypes


Mark Zuckerberg Confirms NFTs Are Coming to Instagram
Tech

Mark Zuckerberg Confirms NFTs Are Coming to Instagram

He suggested that users will be able to show off their NFTs on the social media app.
837 Hypes

Rising Designer Marshall Columbia Introduces Oversized Puffy Bag
Fashion

Rising Designer Marshall Columbia Introduces Oversized Puffy Bag

The Moonflower Shoulder Bag is featured as part of his third collection.
1,755 Hypes

Keep Your Favorite BTS Member in Your Pocket With This Tamagotchi
Tech

Keep Your Favorite BTS Member in Your Pocket With This Tamagotchi

You’ll have to feed them and take them to the sauna.
9,354 Hypes

Dior Celebrates 30 Montaigne Store Reopening With Exclusive Handbag Collection
Fashion

Dior Celebrates 30 Montaigne Store Reopening With Exclusive Handbag Collection

Available at the Parisian boutique only.
1,523 Hypes

Kim Kardashian Is Busy Taking Selfies in Latest Balenciaga Campaign
Fashion

Kim Kardashian Is Busy Taking Selfies in Latest Balenciaga Campaign

The reality star is bringing back Pantaleggings for the spring season.
3,118 Hypes

HYBE Officially Reveals Its First Girl K-Pop Group, LE SSERAFIM
Music

HYBE Officially Reveals Its First Girl K-Pop Group, LE SSERAFIM

The sextet gears up for their grand debut in May.
11,957 Hypes

Brooklyn Beckham and Nicola Peltz Tie the Knot
Culture

Brooklyn Beckham and Nicola Peltz Tie the Knot

The ‘Bates Motel’ actor stunned in a gorgeous Valentino gown.
2,148 Hypes

19 Sneakers Releasing This Week
Footwear 

19 Sneakers Releasing This Week

UNION, JFG and ASICS bring the heat this week.
7,125 Hypes

BLACKPINK's Jennie Debuts Orange Hair Color
Beauty

BLACKPINK's Jennie Debuts Orange Hair Color

“Don’t talk to me or my new hair,” says the K-pop star.
92,223 Hypes

Rising Knitwear Designer Olivia Rubens Debuts "Photosynthesize" Collection
Fashion

Rising Knitwear Designer Olivia Rubens Debuts "Photosynthesize" Collection

Garments that absorb carbon dioxide and release oxygen, just like plants.
2,657 Hypes

Tiffany & Co. Executive Gives His CryptoPunk NFT a Pendant Makeover
Art

Tiffany & Co. Executive Gives His CryptoPunk NFT a Pendant Makeover

Punk 3167 was purchased for ETH 160, roughly $416,400 USD.
808 Hypes

More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.