The Meta Group wants to create digital tokens called “Zuck Bucks”.
Despite the failure of its digital currency project, Meta is not giving up on the idea. Facebook’s parent company is said to be setting up a virtual currency whose unofficial name would be “Zuck Bucks”. This is revealed by a new Financial Times report.
A project inspired by Roblox
Apparently, Zuck Bucks would not be a cryptocurrency. These would be tokens acting as currency, as in some video games. “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 the popular children’s game Roblox”reports the Financial Times.
As a reminder, Roblox was created in 2005. It is a tool for creating your own games that can be shared with gaming communities. Currently, there are several tens of thousands of creations available online. Clearly, Roblox has built its business by selling Robux. These tokens are used to buy things in the game, the goal of Roblox being that as many people as possible create games. Indeed, the more players the creators attract, the more Robux they earn. And, the more Robux they earn, the more they can afford to advertise their game on the tool’s homepage and attract additional players. This process is the same as that of V-Bucks in the Fortnite game.
A model that would have seduced Mark Zuckerberg. Moreover, Zuck Bucks could become the official currency of the metaverse of Meta.
A slew of new projects
While the economic model of personalized and targeted advertising is faltering, the GAFAMs are stepping up their efforts to diversify their sources of income.
This is how Meta also plans to publish and share NFTs on Facebook. Clearly, according to the Financial Times, the company plans to launch a pilot project in mid-May.
Also according to the Financial Times, Meta is studying the possibility of creating “social tokens” or “reputation tokens”. These could be issued for “reward significant contributions in Facebook groups” exemplifies the log. Finally, Mark Zuckerberg’s company would be interested in lending traditional financial assets to small businesses.
Note that we still have little information about these Zuck Bucks.
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