Mark Zuckerberg, the CEO of the tech giant Meta uploaded a video this week, in which he told that currently, inside its VR online video game – the Horizon Worlds, Metaverse is trying out new features which will allow the creators and developers to vend ‘virtual goods and effects’. Creators can get monetized and start earning money from the VR platform, Metaverse, by selling non-fungible tokens or NFT. For instance, a VR designer can now design and sell any avatar accessory or its feature and Metaverse users can buy it for their avatars.
Initially, only a limited number of developers will be permitted to design and trade virtual goods, also there would be a finite number of buyers who would be from the United States and Canada only and must fulfill the age requirement – above 18 years of age.
Over the past few years, the tech giant Metaverse has invested a large amount in its virtual reality and augmented reality programs and according to Zuckerberg, this capability to vendgoods virtually and to buy those virtual goods is a new upgrade of the e-commerce equation.
When a VR developer on Horizon World creates some virtual goods and trades it online and the platform customers happen to buy them, the developers are to be paid a significant amount. However, Meta didn’t specify how much profit it will deduct from the sales and keep as a commission. Upon asking, one of Meta’s spokespeople briefed that, on making every new deal or purchase Meta will be charging the developers a total of 47.5% payment, inclusive of 17.5% cost for using the Horizon Worlds platform and 30% cost of the hardware used, on each purchase from the Meta Quest store.
With this Metaverse is drawing a lot of criticism from the developers and the companies including Apple Inc. Many of the developers were highly disappointed and angered by the amount of the commission possessed by Meta and snapped at the company in the tweets. In response, the vice president of Meta Horizons, Vivek Sharma reasoned that this cut rate is currently a highly competitive rate in the market.
Previously, before the rebranding of Meta, the Chief Executive Officer of the tech giant, Mark Zuckerberg used to criticize Google and the Apple Company for charging their developers a tax fee at the excessive rate of 30% for any new acquisition made on the App Store or Play Store. Moreover, before introducing this feature of monetization and earning through Metaverse, he was heard saying that his company would allow creators to earn more and avoid the high fee charged by Apple on each transaction, and at that time even Apple’s rate was 15 to 30% in total.
Zuckerberg also publicly announced that when they will be rolling out the revenue share, they’re not going to charge their developers that much as it is charged by the other companies including Apple. But now Meta’s charges for virtual item sales are significantly exceeding the tax imposed by Apple or any other VR platform.
Now that Apple had a fair chance to criticize back at Metaverse, they did not choose to stay silent. Fred Sainz, one of the spokespeople of Apple, vocalized that Metaverse used to consistently call out Apple for levying a 30% tax on developers for each transaction and victimizing the designers as well as the small enterprises. But currently, Metaverse is the only platform charging an extra commission fee to those same designers, higher than any of the other VR platforms. This shows Meta’s hypocrisy level, as they gladly charge creators using their platform whereas Apple provided a totally free-of-cost platform to its developers.
Blockparty’s CEO came in support of Apple’s spokesperson and attacked Metaverse, highlighting that Facebook holds all posted content and all the data of its users and handles each stage of the selling procedure. Instead of permitting their developers to also contribute their values on Facebook, they want almost half of their sales.
Read next: Facebook started losing mojo in its audio-based features
Initially, only a limited number of developers will be permitted to design and trade virtual goods, also there would be a finite number of buyers who would be from the United States and Canada only and must fulfill the age requirement – above 18 years of age.
Over the past few years, the tech giant Metaverse has invested a large amount in its virtual reality and augmented reality programs and according to Zuckerberg, this capability to vendgoods virtually and to buy those virtual goods is a new upgrade of the e-commerce equation.
When a VR developer on Horizon World creates some virtual goods and trades it online and the platform customers happen to buy them, the developers are to be paid a significant amount. However, Meta didn’t specify how much profit it will deduct from the sales and keep as a commission. Upon asking, one of Meta’s spokespeople briefed that, on making every new deal or purchase Meta will be charging the developers a total of 47.5% payment, inclusive of 17.5% cost for using the Horizon Worlds platform and 30% cost of the hardware used, on each purchase from the Meta Quest store.
With this Metaverse is drawing a lot of criticism from the developers and the companies including Apple Inc. Many of the developers were highly disappointed and angered by the amount of the commission possessed by Meta and snapped at the company in the tweets. In response, the vice president of Meta Horizons, Vivek Sharma reasoned that this cut rate is currently a highly competitive rate in the market.
Previously, before the rebranding of Meta, the Chief Executive Officer of the tech giant, Mark Zuckerberg used to criticize Google and the Apple Company for charging their developers a tax fee at the excessive rate of 30% for any new acquisition made on the App Store or Play Store. Moreover, before introducing this feature of monetization and earning through Metaverse, he was heard saying that his company would allow creators to earn more and avoid the high fee charged by Apple on each transaction, and at that time even Apple’s rate was 15 to 30% in total.
Zuckerberg also publicly announced that when they will be rolling out the revenue share, they’re not going to charge their developers that much as it is charged by the other companies including Apple. But now Meta’s charges for virtual item sales are significantly exceeding the tax imposed by Apple or any other VR platform.
Now that Apple had a fair chance to criticize back at Metaverse, they did not choose to stay silent. Fred Sainz, one of the spokespeople of Apple, vocalized that Metaverse used to consistently call out Apple for levying a 30% tax on developers for each transaction and victimizing the designers as well as the small enterprises. But currently, Metaverse is the only platform charging an extra commission fee to those same designers, higher than any of the other VR platforms. This shows Meta’s hypocrisy level, as they gladly charge creators using their platform whereas Apple provided a totally free-of-cost platform to its developers.
Blockparty’s CEO came in support of Apple’s spokesperson and attacked Metaverse, highlighting that Facebook holds all posted content and all the data of its users and handles each stage of the selling procedure. Instead of permitting their developers to also contribute their values on Facebook, they want almost half of their sales.
Read next: Facebook started losing mojo in its audio-based features