California – According to the Financial Times, Facebook’s parent company, Meta, is investigating the possibilities of digital money, internally dubbed “Zuck Bucks” in a play on the founder’s name.
In the face of intense opposition from banking authorities worldwide, Meta abandoned its plan to develop a global cryptocurrency – first dubbed Libra but later renamed Diem – and instead focused on
However, Mark Zuckerberg, the company’s creator, and CEO has talked about the critical role of e-commerce and financial technologies in his vision for an immersive online environment dubbed the “metaverse.”
Digital tokens similar to those used in video games are being examined at Meta, with the internet company’s version dubbed “Zuck Bucks” by those working on it, according to the Financial Times.
Tokens are used for transactions in popular games such as “Fortnite” and “Roblox.”
Tokens might be used to compensate authors and influencers whose postings attract online audiences.
As Meta is attempting to diversify its income streams away from targeted advertising, which has raised worries about breaching users’ privacy.
