Aim you do not want to miss the opportunity to enter the virtual currency market, despite the various legal problems they have faced in recent months. According to the Financial Times, the company would work on a new entity under its name. ZuckBucks, a token This could come with a very different approach than the one the company is currently taking with Diem (Libra), a failed stablecoin project.

‘Zuck Bucks’, actually, not one cryptocurrency as such, but virtual currencies they are only available on Meta platforms. These will be “centrally controlled” by the company, according to the previous environment.

Like this, users can convert their dollars, euros or other official currencies to ‘Zuck Bucks’ (in honor of the internal name Mark Zuckerberg) and to purchase products or services Facebook anyone Instagram.

How would Zuck Bucks work?

This virtual currency Therefore, Facebook It wouldn’t be much different from the V-Bucks Fortnite. They can also be exchanged for any other official currency. They are also used to purchase items that are only available in-game but not used on other platforms.

roblox It also uses a similar system called Robux. Once again, a virtual asset can only be used for in-game benefits.

The Financial Times also announced Meta works on “social” or “reputation” tokens. Specifically, they will be taken as: prize every time a user makes a valuable contribution to a Facebook group or page.

Meta continues to focus on metaverse and NFTs despite failed attempt at Diem

Meanwhile, the parent company of Facebook and Instagram continues to develop other related services. metadata store Y blockchain.

Between them Ability to sell and buy non-tradable tokens within Facebook, and also features that allow users to view their assets. Instagram has also confirmed that he is interested. NFT and is currently exploring how to use them within the platform.

However, Meta is experiencing some complications in one of its most important plans: Creation of his own stable coin called Diem, A virtual currency whose value matches the dollar’s value. There were many legal issues with this project, causing many partners to no longer trust the company to launch the coin, also known as Coin. ‘Balance’.

Currently, Mark Zuckerberg’s company appears wants to sell the assets of this project. As Bloomberg explains, the target is “return of capital to investment partners”.

Meta also already allows more ads in cryptocurrencies

The company led by Mark Zuckerberg was updated a few months ago. The criteria you use to decide which cryptocurrency ads, such as bitcoincan be published on their own platform increasing the number of licenses granted to more advertisers and companies.

In Official description of metatitled “Expanding eligibility for advertising in cryptocurrencies”, The company explained how increased market maturity and regulatory movements convinced it to change its stance.

Previously, advertisers had to fill out consent forms with information about these ads. like them licence anyone additional relevant informationat the same time, its existence in an environment investment anyone Exchange. Now, marketing campaigns will be able to leverage the platform’s large user base.

However, the market has come a long way since then, and closer scrutiny by tech giants and regulators should mitigate that risk. Facebook itself is preparing for a metaverse project, This naturally made headlines both inside and outside the crypto space.