Facebook’s parent company is developing a new virtual currency called Zuck Bucks
Although the Diem cryptocurrency project has been discontinued, Meta is still working on other crypto projects. According to the latest leaked information, the parent company of Facebook and Instagram is working on a digital currency project called Zuck Bucks.
Zuck Bucks, apparently named after Meta founder, chairman and CEO Mark Zuckerberg. In addition, Zuck Bucks will not be a virtual currency but will aim to become a cryptocurrency (token) used in Meta applications and managed by Meta.
In general, Zuck Bucks are like crypto-currency units commonly used to transact in games. Perhaps Meta is trying to copy the monetization model of game companies.
Meta is not completely turning away from blockchain products as they are looking for ways to enable NFT posting and sharing to Facebook. It is expected that in mid-May, Meta will test bringing NFT to Facebook. Earlier, it was reported that Meta plans to roll out NFT to both Facebook and Instagram. In March, Mark Zuckerberg also announced that Instagram will support NFT in the future.
In addition, Facebook is also developing “social tokens” and “reputation tokens”, which users will be rewarded for making meaningful contributions to the community or in Facebook groups. These tokens can be traded, exchanged…
Sharing about the above information, a spokesperson for Meta said that they currently have nothing to update. He added that Meta is constantly reviewing and improving new products for people, businesses and creators. Meta is focusing on shaping the metaverse as well as payment services in the metaverse world.
Let’s wait and see how Zuck Bucks is implemented and if it helps Meta through its recent troubles.
(Refer to Quantrimang)
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