Meta unveils fees on metaverse sales

Must read

Now That the West Has Promised Tanks, Ukraine Dusts Off F-16 Request

One of my favorite children’s books is Laura Numeroff’s ‘If you give a Mouse a Cookie.’ In it,...

Fact Check: Ilhan Omar Claims She Never Compared Israel, US to the Taliban

Ilhan Omar, during an appearance on CNN’s “State of the Union” Sunday, pleaded ignorance when it came to...

Donald Trump Promises to Empower Parents, Vows to Defeat Gender Ideology Cult

While other Republicans tease possible presidential campaigns, former President Donald Trump is getting into the swing of the...

CNN Gives Schiff, Swalwell, and Omar an Entire Panel to Continue Their Committee Removal Whining Tour

CNN offered Ilhan Omar, Eric Swalwell, and Adam Schiff an entire panel segment so they could continue whining...

Firm plans to take nearly 50% cut for transactions on its virtual reality platform

Facebook’s parent company Meta Platforms will charge creators around 47.5% on sales of digital assets and experiences made inside the firm’s virtual reality platform Horizon Worlds.

Meta spokesperson confirmed to CNBC on Wednesday that the overall charge is comprised of a 30% hardware platform fee for sales made through Meta Quest Store, where it sells apps and games meant for its virtual reality headsets. On top of that Horizon Worlds will charge a 17.5% fee.

On Monday, the social media giant announced it would start testing tools for creators to sell digital assets and in turn make money on Horizon Worlds.

A key part of Meta’s plan for creating a metaverse, Horizon Worlds (formerly Facebook Horizon) is a free virtual reality, online video game that allows people to build and explore virtual worlds.

Meta’s fees for the sale of virtual assets on the platform are significantly higher than those Apple charges developers on its App Store. CEO Mark Zuckerberg and other Meta executives have previously criticized Apple for charging developers a 30% fee for in-app purchases.

Meanwhile, the size of the announced fees has angered some in the NFT community, with one Twitter user writing “I hate you Facebook.” Another one said that “If Meta wants 47.5% of NFT sales they gotta talk to the IRS because I don’t even have that after taxes.”

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Now That the West Has Promised Tanks, Ukraine Dusts Off F-16 Request

One of my favorite children’s books is Laura Numeroff’s ‘If you give a Mouse a Cookie.’ In it,...

Fact Check: Ilhan Omar Claims She Never Compared Israel, US to the Taliban

Ilhan Omar, during an appearance on CNN’s “State of the Union” Sunday, pleaded ignorance when it came to...

Donald Trump Promises to Empower Parents, Vows to Defeat Gender Ideology Cult

While other Republicans tease possible presidential campaigns, former President Donald Trump is getting into the swing of the...

CNN Gives Schiff, Swalwell, and Omar an Entire Panel to Continue Their Committee Removal Whining Tour

CNN offered Ilhan Omar, Eric Swalwell, and Adam Schiff an entire panel segment so they could continue whining...

EXCLUSIVE: Nick Pope Explains Why You Should Pay Attention to the Government’s Recent Interest in UFOs

It’s been a cluttered news cycle the last few years, so it would be understandable if you missed...