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 Times, the 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.
