Meta (formerly Facebook) once planned to launch its own cryptocurrency called Libra. While the Libra project has faded below other projects like Metaverse, the company hasn’t abandoned the entire blockchain space with its Metaverse and NFT plans for Facebook and Instagram. According to a report in the Financial Times, Facebook’s parent company is working on a virtual currency that employees are calling “juk bucks”, named after Mark Zuckerberg, the CEO and founder of Meta.
According to the report, Zak Bux is unlikely to be a cryptocurrency. it says that meta There is a tendency towards in-app tokens that will be controlled centrally by the company, as used in games like Roblox. popular kids games roblox There is an in-game currency called Robux and the gaming company has made a huge business by selling Robux. instagram The parent company may try to emulate some of that success on its platform.
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The FT report, citing the memo, said that Meta plans to launch a pilot for posting and sharing NFTs on Facebook in mid-May. Soon after, Meta NFT will test allowing membership of Facebook groups based on ownership and to create another NFT. zuckerberg Announced in March that the company was bringing NFTs to Instagram as well. Furthermore, the report states that Meta is exploring “social tokens” or “reputation tokens” that could be issued as rewards for meaningful contributions. Facebook group.
In a statement to The Verge, a Meta spokesperson said the company has no updates to share yet, but that it continually considers new product innovations for people, businesses, and creators. The spokesperson emphasized the company’s focus on building the metaverse so far.
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That means we’ll have to wait to find out what this Zak Bux project will bring – if it will only be a cryptocurrency or an in-app token, as predicted by the Financial Times report.
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