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Meta parent company of Facebook and Instagram announced two new features with saleable virtual items and creator bonuses

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Indrani bose Follow

INDIA

Apr, 14 2022

Apr, 14 2022

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Meta, the parent company of Facebook and Instagram has announced two new features were creators in the Horizon Worlds, the company’s social metaverse platform for Quest VR headsets that can create and sell virtual items. These features will enable the creators in the Horizon Worlds metaverse to monetization and metaverse economy creators thereby earning a living.

With the virtual items, Meta suggests that creators could sell virtual items accessories inside a fashion world or offer paid access to things within Horizon Worlds. This lets creators introduce new digital items that they can sell within the Horizon and earn money. Gradually, creators will be able to figure out new ways to monetize their content. Creators can make new items and sell using tapping the Commerce tab and gizmo within the app’s creator mode and can continue building. Creators can bring content but that shouldn’t violate the company’s policies, hence need to follow the Prohibited Content Policy. Players have to be 18+ and in the U.S. or Canada to buy these in-world items according to the Terms of Service.

It is expected that the game will be launched for mobiles including gaming consoles. a large number of users may be attracted by the platform since it launched a $10 million creator fund that may go a long way in incentivizing creators.

The other feature is related to the creator bonus program where Meta wants to hand these out based on goal-oriented monthly programs. These bonuses are compensation and reward for those creators who are giving great inputs in Horizon by building awesome worlds. New users will also get attracted by this reward.  In October, a $10 million fund for the creators was set up by the company. As per Meta, no fees will be collected on these bonuses earnings and also pay in full at the end of the month.

About metaverse :

A metaverse is a collection of parallel universes that can be accessed via virtual reality platforms. Presently, it is available in the form of video games and social platforms where people come to play as well as to participate in the events. In December for Oculus Quest VR headset users a social platform in metaverse Horizon Worlds was rolled out. It has now 300,000 monthly users. The creators can now sell digital items to these users. Horizon Worlds Meta product is in a nascent stage and held back by the hardware limitations of VR headsets.


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Indrani bose

CBW - External Analyst

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