Transaction tax

What is the Metaverse tax?

Perhaps you have heard of the latest Meta invention to train in the virtual universe created by Mark Zuckerberg and his team: the sale and purchase of virtual objects. A Metaverse tax is linked to it, an idea intended to help the company strengthen its position even if it may leave users with little profit to enjoy in the end.

Like any Meta business, access to different social tools comes at a price – literally. The company tried to bring in new revenue through virtual reality ads, but it didn’t go as planned.

Now Zuck hopes they can make money by letting others make a profit first. And by “others”, we mean creators in this universe that is his.

So the company is rolling out a feature for creators to sell and buy their wares in the open-world VR app Horizon Worlds.

We are talking about strictly virtual “items and effects”, nothing physical that can be traded in the real world. Virtual clothing, accessories, and character mods are some examples.

However, every transaction will go through the pockets of Meta. The Metaverse tax that Zuck puts in place is no less than 25% of profits.

The first “lucky” creators to get access to this opportunity were hand-picked by Meta. After the trial period ends, all Metaverse users in the United States and Canada over the age of 18 will be able to do the same. All payments will be processed through the Meta App Store.

One more thing to remember – transactions that take place in the Horizon World app will remain there for the time being. Word is Meta will eventually cross worlds, but it’s unclear when that might happen.

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What is the Metaverse tax?