Meta will test selling virtual goods in the metaverse - and pay creators?

Meta's new VR platform Horizon Worlds will enable creators to sell virtual goods, but their 47.5% take rate has attracted significant criticism.

Meta will test selling virtual goods in the metaverse - and pay creators?
Courtesy of Meta

Facebook (sorry…Meta) wants to make it easier for people to spend and make money on virtual reality platform Horizon Worlds, formerly known as Facebook Horizons, which is an crucial part of the company’s plan to create their ideal metaverse. Buying and selling digital assets hasn’t previously been part of Horizon Worlds, but the company is now realizing the need for prioritization. Indeed, companies and individuals have already been in a digital resource “gold-rush” for months, grabbing everything from art to real estate in virtual worlds on platforms like Decentraland and The SandBox. Even Citi estimates that the metaverse economy could be worth between $8-13 Trillion by 2030.

In addition to in-world purchases, Meta said some virtual world creators in the U.S. will be rewarded for building worlds that “attract the most time spent.” Zuckerberg, said: “Creator monetization is really important because you all need to support yourself and make a good living building these awesome experiences that people can have.” That’s awesome that Facebook is championing creators being able to make money from their content…wait…scratch that.

Within the same week, Meta said it will charge creators fees of up to 47.5% to sell virtual wares in its metaverse! This is totally backward to their previous commentary and I would even say downright ridiculous. Not to mention, this is significantly more than Apple charges developers on its App Store, which has been receiving heat for its “high fees” for a while now. Oh, Zuck, you’ve done it again.