Facebook’s parent company Meta plans to charge a 47.5% commission on sales of digital products in the Horizon Worlds metaverse, CNBC reported, citing a company representative.
The reward structure includes a 30% fee for Meta Quest Store and 17.5% for Horizon Worlds for VR headsets.
On April 11, the company announced that it has turned on the ability for some users to create and sell virtual items in Horizon Worlds, including NFTs. The amount of the fee in the message was not specified.
OpenSea, the largest NFT market in terms of transaction volume, has a rate of 2.5% per transaction, while its rival LookRare has a rate of 2%.
Apple charges app developers 30% for sales made through the App Store. Meta CEO Mark Zuckerberg and other executives have previously criticized the company for high wages.
In November 2021, Zuckerberg said the company plans to help creators avoid high App Store fees.
“When we build the metadata store, we focus on giving creators opportunities to earn from their work. Apple’s 30% per-action fee makes this difficult, so we’re updating our subscription product so creators can earn more,” he said.
Meta’s reported commission rate was higher than Apple’s, but Horizon Vice President Vivek Sharma described it as “highly competitive in the market” in a comment to The Verge.
The size of the commission at Horizon Worlds caused a strong reaction in the community, from ridicule to anger.
“Renaming it to Meta doesn’t mean you understand the value of Web3. Commission – 47.5%. I hate Facebook,” said Ilana Dikman, co-founder and venture capitalist of TheGirlsTable project.
“I’d be surprised if someone read the 45.7% tax return on Facebook and said yes, it looks good to me,” wrote Web3 developer lefkosp.eth.
A user named ThreadGuy.eth suggested to Meta to “negotiate with the IRS” on the fee rate.
“Because I don’t have that much money after taxes,” he added.
“Everyone is complaining about OpenSea commissions,” said another member of the community, accompanying the message with a meme with Zuckerberg.
Recall that Francis Haugen, a former Meta employee who was an informant, warned of the possibility of transferring the company’s abuses to the metadata created.