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Meta creates an NFT-currency for its Metaverse

Meta creates an NFT-currency for its Metaverse

The financial branch of Meta Corporation is considering the possibility of creating a digital currency for Metaverse. The company seeks new income sources as Facebook and Instagram's apps drop in popularity.

According to the Financial Times, the in-house name of the cryptocurrency is Zuck Bucks. FT says that this is unlikely to be a cryptocurrency, but NFT tokens, which are used in gaming apps. For example, just like Robux currency in the Roblox online game.

Facebook is scheduled to launch a pilot NFT project in mid-May. The publication's sources also claim that the social network is considering issuing social tokens, which can be given out, among other things, for contributions to Facebook's development.

Recall that Meta previously tried to create its own cryptocurrency Libra. However, because of the pressure made by Congress, the company had first to postpone the launch, then rebrand, and finally abandon that idea.

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