According to the Financial Times, Meta is exploring the possibility of creating a virtual currency, Zuck Bucks. Zuck Bucks, named after Meta’s founder, chairman, and CEO, Mark Zuckerberg, will not be a mainstream cryptocurrency. Instead, Meta is turning to implementing tokens in apps that will be centrally monitored by the company. Compare tokens used in game apps like Robux currency in the popular kids game Roblox. Roblox has built a large Robux sales business and Meta can try to replicate that success on their platform.

Meta has not completely distanced itself from blockchain products, as the company also considers publishing and sharing NFTs on Facebook. The source said the company plans to launch a pilot project in mid-May, according to a memorandum, and will soon run tests that allow Meta to “mint” membership in Facebook groups based on NFT ownership and the rest of it. The Financial Times previously reported on some of Meta’s NFT plans for Facebook and Instagram in January, and Zuckerberg announced in March that NFT would appear on Instagram.

In addition, Meta is working on “social tokens” or “reputation tokens,” which according to the FT “could be awarded, for example, as a reward for a significant contribution to Facebook groups.” The company also apparently works on traditional financial services such as small business loans. Among the big fans of Facebook’s plans was former Twitter CEO Jack Dorsey, who supported them. Source