Meta plans to create ‘Zuck Bucks’ a virutal currency.
Mark Zuckerberg is looking to develop virtual currencies, called “Zuck bucks” by staff, for Facebook and Instagram users as part of a set of products designed to reduce his platforms’ dependence on advertising in future meta-metrics.
According to foreign media, the Telegraph reports, Facebook’s parent group, Meta, is looking to develop a range of virtual products – including digital tokens and “creative currencies” – to diversify revenue and revitalize its user base. , which is increasingly turning to newer rivals like TikTok.
While Meta remains the dominant social media network provider – its revenue grew 37 percent to $ 118 billion in 2021 as advertisers sought to reach 4.9 billion monthly active Facebook and Instagram users – TikTok has also built a massive business without ads based on app purchases and e-commerce.