Are “Zuck Bucks” in our future? Meta, Facebook’s parent company, has drawn up preliminary plans for virtual currency for the metaverse.
, or “Zuck Bucks” as it’s being referred to by company employees, the FT reported, citing several people familiar with the matter. The latest move comes not long after the company’s ill-fated move into cryptocurrency.
What was left of Meta’s Libra/Diem stablecoin project wasSilvergate Bank earlier this year. The FT reported that Meta doesn’t envision a blockchain-based digital currency, but in-app tokens that are centrally controlled by the company. The planning reportedly remains in early stages, and the project could be dropped or altered, or both, according to the FT. Meta is also said to be exploring a move into traditional financial services, such as small business lending. into Facebook and Instagram are more developed, the report said. According to an internal memo, Instagram will soon support NFTs and there are plans for a mid-May pilot launch for posting NFTs on Facebook.“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,” the spokesperson said.Thursday - Sunday, June 9-12, 2022The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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