Over at the Meta HQ, team Zuckerberg is busy fine tuning its up coming Horizon Worlds metaverse. Most notably, calculating how to milk its customer base for as much dinero as is humanly possible.
In a recent announcement, Meta revealed that it would allow its creators to monetize virtual content via the platform. Therefore, providing additional revenue through the trade of in-game items, wearables, experiences, unlockable content and visual effects.
All this extra opportunity comes at a premium however, as Meta plans to take hefty share of the pie. Essentially, creators will face an initial ‘platform fee’ from the app on which it resides. Then, Meta themselves will take a massive 25% of whatever’s left over. So, for example, a purchase via the Meta-owned Quest store would be subject to a 30% platform charge. Following which, Meta would take an extra 25% of what’s left, leaving the creator with a little over half of the funds.
Facebook charging 47.5% for every NFT sale is the best thing to ever happen to us.
— Degentraland (@Degentraland) April 12, 2022
Meta has indicated that they believe this to be a fair price, however, the Web3 community is inclined to disagree. “We think it’s a pretty competitive rate in the market,” said Horizon VP, Vivek Sharma in a statement that has since been mocked mercilessly on Twitter. Given that the standard fee for a purchase on an existing NFT marketplace comes in at around 2.5%, Meta is risking the ire of the blockchain world.