Meta is Working on a Digital Currency That Might be Named Zuck Bucks
Meta is exploring how virtual currencies could help lure users to its metaverse platform
Though Meta has given up on its Diem cryptocurrency, the company has not given up the idea of exploring finance products. It’s working on a virtual currency that the employees call Zuck Bucks.
Meta’s Zuck Bucks
Zuck Bucks is obviously named after the CEO, Founder, and Chairman of Meta, Mark Zuckerberg. They are “unlikely” to be a cryptocurrency. Instead, Meta plans to make Zuck Bucks in-app tokens that would be controlled by the company. The Zuck Bucks will be similar to currencies used in gaming apps like Robux currency in the Roblox game. Meta might be planning to use the currency to emulate some of the game’s success and its currency have earned.
In addition to Zuck Bucks, Meta is also looking at other blockchain products. It might be posting and sharing NFTs on Facebook. It might launch a pilot to test that in May. The company will likely allow membership of Facebook groups based on NFT ownership and another for minting NFTs.
Meta is also exploring social tokens or reputation tokens that might be issued when a person contributes meaningfully to a Facebook group. It might also look into traditional financial services like loans for small businesses.
In a statement, Meta Spokesperson Lauren Dickson stated, “We have no updates to share today. 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.”
So, we all have to wait to see how Zuck Bucks will work and how the virtual currencies might help the company to get past some troubles it faced recently. Meta’s moves are not just tracked by news outlets and the general public; the company has some high-profile fans as well. One of those high-profile people is none other than former Twitter CEO Jack Dorsey.
What do you think of Meta’s all-new plans? Will you use Zuck Bucks if they are indeed a reality?
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