Is Facebook's Metaverse Getting Greedy?
Earlier this week, Meta announced that they would be allowing a handful of users to sell their own digital assets through Horizon Worlds. The post doesn’t disclose how much profit will be going to the creator and how much will be going right back into Meta (Facebook’s) pocket.
And the price point is shocking.
A spokesperson from Meta shared with CNBC that they will be taking 47.5% of each transaction of digital goods in Horizon Worlds. According to CNBC, “That includes a “hardware platform fee” of 30% for sales made through the Meta Quest Store, where it sells apps and games for its virtual reality headsets. On top of that, Horizon Worlds will charge a 17.5% fee.”
The seemingly unequal cut of shares has put some in the NFT community against the billion dollar company.
For comparison, LooksRare takes 2% of each transaction while OpenSea takes 2.5%.
In a move that is being hailed as a game changer for the entertainment industry, Warner Bros. Home Entertainment has announced the launch of the WB Movieverse with The Lord of the Rings: The Fellowship of the Ring (Extended Version) Web3 Movie Experience NFT. This groundbreaking new release will allow fans to engage with the film in ways never before possible!
Reddit has onboarded millions of new users to NFTs during a bear market. Read on to learn more.