Meta is working on a digital currency nicknamed Zuck Bucks
The whole Zuck Bucks nickname should probably be dropped as soon as possible.
As Facebook’s popularity begins to decline, Meta is exploring new options and ways to make money on its platforms. It looks like the next big idea that Meta has is a new kind of digital currency. Sources have nicknamed it Zuck Bucks.
This news was initially reported by Financial Times. Sources familiar with Meta told the publication that Meta Financial Technologies has been testing a sort of virtual currency that people could use across the multitude of Meta platforms.
It doesn’t look like this particular digital currency from Meta will involve the blockchain, a change from the company’s last attempt – Libra.
Instead, these “Zuck Bucks” will likely resemble microtransactions that you can find in mobile games. Users will buy Zuck Bucks with real money and get a specific amount of credits that they can spend in-app.
Fortunately, Zuck Bucks won’t be the official name of the currency
This is just an internal nickname that employees have given the project while it is in development. I can’t imagine that the company would be stupid enough to launch this new project with Zuck Bucks as the actual name.
At this point, we still don’t know too much about Meta’s potential currency. In fact, Meta didn’t have much to say in a statement to Mashable, stating, “we continuously consider new product innovations for people, businesses, and creators.”
Additionally, the statement continued with, “As a company, we are focused on building for the metaverse and that includes what payments and financial services might look like.”
And there you have it. Ole Zuckerberg and the Meta team are working on some digital dollars that you can spend on fake goods inside of a fake world. Sounds perfectly normal to me.
Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.
- Apple and Meta handed over data to hackers pretending to be police
- A bug in Facebook’s system led to a surge of misinformation, but is that a surprise?
- Don’t fall for the free iPhone 13 scams popping up on Instagram
- Twitter’s upcoming edit feature is a bad idea – here’s why