On Monday, Meta published a blog post detailing its plans to monetize the metaverse. The company said it’s currently testing out new tools for its VR game Horizon Worlds that will enable creators to derive an income from things they build in the game. For example, a creator could make and sell attachable fashion accessories.
“The metaverse — by nature of its not being limited by physical space — will bring a new level of creativity and open up new opportunities for the next generation of creators and businesses to pursue their passions and create livelihoods,” Meta said in the blog post.
Many people were shocked to discover, however, that Meta will be taking a 47.5% cut on each sale.
A Meta spokesperson told CNBC, among other publications, that Meta will take an overall cut of up to 47.5% on each transaction. The cut will comprise “hardware platform fee” of 30% for sales made through the Meta Quest Store and Horizon Worlds will charge a 17.5% fee, CNBC reported.
Users responded to the news on social media, with many outraged to discover the nearly 50% cut. “The future of work is giving Meta 47.5% of your salary, apparently,” one Twitter user wrote.
Other creators shared memes as they reacted to the unexpected sales cut.
If we pay the 47.5% transaction fee, can Meta at least give us the other half of our bodies? ? https://t.co/tU2MDEOPzX
— boredape93 (@boredape93) April 12, 2022
no one:
zuckerberg: i’m more of a glass 47.5% full kind of guy
— ? ? ? ? ❤️ nft (@PuffYatty) April 12, 2022
Meanwhile, Meta’s VP of Horizon Vivek Sharma reportedly told The Verge, “we think it’s a pretty competitive rate in the market.”
“We believe in the other platforms being able to have their share,” Sharma continued.
In other tech news, NASA’s Hubble telescope has discovered an 80-Mile wide comet hurtling towards Earth.
wazup.