When you hear tech CEOs like Mark Zuckerberg or Satya Nadella talk about it, the metaverse is the future of the internet. Or is it a video game. Or maybe it’s an extremely inconvenient, even worse, version of Zoom? It’s hard to say where the Metaverse will take us. What exactly is the metaverse and how does Meta plan to make a lot of money from it? Alphastocks has solved it for you!
What exactly is the Metaverse?
To some extent, talking about what the “Metaverse” means is a bit like having a discussion about what the “Internet” meant in the 1970s. The building blocks of a new form of communication were under construction, but no one could know. really how to do it. would work Internet would look like. So while the internet has changed the world forever, not all ideas of what that would look like are true.
In general, the technologies that make up the Metaverse include both virtual reality (VR) and augmented reality (ARKANSAS). However, it’s not the case that you can only use the Metaverse through VR or AR. A virtual world, such as Fortnite or GTA, can be accessed via PC or game consoles and can also be metaversal. In the Metaverse you have, among other things, a digital economy where users can make, buy and sell goods. All that is possible in the Metaverse these days is mostly gambling and fantasizing for everyone.
Meta Platforms Mega-fees
According to MarketWatch, Meta Platforms (FB) plans to take a large part of the sales on its metaverse platform. According to a Facebook blog post published on April 18, the company will allow some Horizon Worlds manufacturers to sell products on the metaverse platform, which will eventually include NFTs. However, Meta would take around 47.5% of each trade. That includes a 30% “hardware platform fee” for sales through the Meta Quest Store, where you sell apps and games for your VR headset. Horizon Worlds will also charge a 17.5% fee.
Meta’s fees for selling virtual assets in Horizon Worlds are significantly higher than what Apple charges developers in its App Store. Meta CEO Mark Zuckerberg and other Meta executives have previously criticized Apple for charging developers a 30% fee for in-app purchases through the App Store.
In November, Zuckerberg said his company would try to help Metaverse makers avoid Apple’s (high) App Store fee.
“As we build for the metaverse, we are focused on creating opportunities for creators to monetize their work. Apple’s 30% transaction fee makes it harder to do so, so we’re updating our subscription product so creators can now earn more.”
The future of Meta Platforms will be very different from the past. The megacorporation enjoyed a decade of rapid growth as the platform attracted more users each quarter. With the growing number of users, revenue has also skyrocketed, fueled by advertisers willing to pay billions of dollars to access consumer data. The company is now facing fierce competition and headwinds in the advertising industry.
Meta invests billions of dollars in the so-called ‘Metaverse’. The company needs to monetize Metaverse to be successful, but with fees as high as 47.5%, it can be difficult to convince developers to create content for Horizon Worlds. The company may decide to lower the fees for the global release of Horizon Worlds to attract more developers.
Mr. Zuckerberg firmly believes that the next generation of the Internet is the Metaverse; a still vague and theoretical concept where people move through different worlds of virtual and augmented reality, which is willing to spend a lot of money on it. So much so that spending last year topped $10 billion and will only increase in years to come.
In essence, Zuckerberg is asking employees, users, and investors to have faith in him and his vision for the Metaverse. That’s high demand for something that will cost the company billions over the next several years and may never come to fruition.
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