Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Meta will charge creators up to 47.5 percent in fees to sell virtual goods in its metaverse


In the Metaverse, Meta will charge creators up to 47.5% of the price of virtual goods sold. This is much more than Apple charges developers on its App Store.

On Monday, Meta said that it is testing virtual commerce in its metaverse platform which is called a “horizon world.” Those who make products for virtual worlds will be able to offer things like fashion accessories for avatars and access to their virtual worlds, says the statement.

Meta and its CEO, Mark Zuckerberg, recently slammed Apple for charging developers a 30% royalty on in-app sales made through the App Store. They said that Apple should not charge this fee. Earlier this year, Zuckerberg said that Meta will make changes to help metaverse producers avoid Apple’s App Store tax.

He said: “As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work. The 30% fees that Apple takes on transactions make it harder to do that, so we’re updating our subscriptions product so now creators can earn more.”

Meta Quest, Meta’s virtual reality system that used to be called Oculus, charges a 30% platform fee on all purchases. Also, Meta’s system for the metaverse, Horizon Worlds, will charge a 25% sales fee.

This means Meta will keep up to 47.5 percent of the money from the sale, leaving the seller with 52.5 percent.

According to a Meta spokesman who spoke with Insider, the calculation was correct.

“If a creator sells an item for $1.00, then the Meta Quest Store fee would be $0.30 and the Horizon Platform fee would be $0.17 (25% of the remainder), leaving $0.53 for the Creator before any applicable taxes,” the spokesperson said.

Horizon Worlds will be available on more platforms in the future, so Meta will not always have to pay for the cost of each new platform, they said. As Horizon Worlds spreads to more platforms, such as smartphones, we expect that those platforms will charge their fees as well, like they do now. Horizon Worlds would charge 25% of the rest of the balance after any hardware platform costs were taken into account “It was moved.

Vivek Sharma, Meta’s VP of Horizon, told The Verge that “we think it’s a fair price for the market.” Other platforms, we think, will be able to compete with the one we use now.”

As of October, Meta changed its name from Facebook. This was so that the company could shift its focus away from social networking and toward so-called “metaverse” technology, which is a future vision of the internet that can be used with immersive technologies like virtual reality.

It says that only a “handful” of manufacturers would start with virtual sales first. When Insider asked Meta for specific information, they refused to give it to them.

About Humano

He is a freelance writer based in Turkey. He loves NFTs, football, film and technology.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *