Meta is ??? ?? ??reportedly exploring the idea of introducing "Zuck Bucks," a virtual currency that the company's customers can use across its apps. I guess they heard we like capitalism.
As reported by the Financial Times, tech giant Meta is reportedly looking into introducing a central in-app currency system which will be shared across its various platforms, such as Facebook, Instagram, and WhatsApp. It seems that the waning popularity of Facebook may be making Meta worried about the future of its finances, prompting it to search for ways to both diversify beyond ad revenue and better engage users.
Though not officially called "Zuck Bucks," this nickname was reportedly bestowed upon the initiative by internal employees in a reference to Meta CEO Mark Zuckerberg.
SEE ALSO: Facebook-hired firm promoted fake TikTok challenge to generate bad pressIt's unclear exactly how this system will work. However, in a stroke of mercy, it's likely this virtual currency won't be connected to the blockchain. Instead, it is expected to operate more like the in-game currencies utilised in many mobile games. Such currencies are often available to purchase with real money, and can be used to buy access to in-app perks and cosmetics, such as outfits to change the appearance of a video game character.
That's right — Facebook could get microtransactions.
Of course, it also might not. Meta's currency is reportedly still in planning, and may never even be implemented. Meta declined to confirm or deny the development when Mashable reached out for comment.
"We have no updates to share today," a Meta spokesperson told Mashable. "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."
Other features Meta is reportedly considering adding include creator-specific coins associated with Instagram influencers, and tokens issued to users for contributing to Facebook groups. Though if posting to Facebook groups might soon be incentivised, it may be indicate that interacting on this platform for the sake of being social may be losing its shine.
Topics Facebook Instagram Meta