Facebook’s parent company Meta Inc. will soon start testing digital money for buying and selling digital assets as well as experience on its virtual platform named Horizon Worlds.

Initially, the version will be available to those who are creating videos, conducting classes, making virtual games, and fashion accessories through the virtual platform. Users can access these games and attend classes via VR headset and will later be offered a paid version of the digital spaces they have created.

With this Meta is trying to build virtual money-making tools for these virtual world owners to allow users to pay and participate every month to experience new features that the company launches.

The social media powerhouse is also experimenting with a "creator bonus" program for a restricted group of Horizon Worlds users in the United States, in which members will be rewarded for meeting goals such as embracing new tools or features that the platform introduces.

Chief Executive Officer at Facebook Mark Zuckerberg expressed that the group intends to create many such similar worlds, but the work of expansion lies in the hands of the creators to support each other and grow.

Horizon Worlds, a large VR social platform, and a virtual event platform called Horizon Venues are two early examples of metaverse-like places.

Last year, Facebook renamed itself Meta and poured money into virtual and augmented reality to represent its new bet on the metaverse, allowing users to socialize, play, and work in future virtual spaces that can be accessed via a variety of devices. Virtual players can now purchase buildings, lands, and avatars, according to the corporation.

In other news, Meta has reportedly accepted Oversight Board’s recommendations on preventing users from sharing private residential addresses, even if the account is public. The move should allow Meta to tighten its guidelines around sharing private information over doxing concerns.

Source credits:

https://www.moneycontrol.com/news/world/meta-to-start-testing-money-making-tools-for-its-metaverse-8347001.html