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Meta, The Parent Company Of Facebook, Is Developing With A Digital Currency Called Zuck Bucks

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According to the Financial Times, Facebook’s parent company Meta is investigating the possibilities of digital money known internally as “Zuck Bucks,” a play on the founder’s name.

In the face of intense opposition from banking regulators around the world, Meta abandoned its plan to develop a worldwide cryptocurrency, first called Libra but then renamed Diem.

Founder and CEO Mark Zuckerberg, on the other hand, has spoken about the importance of e-commerce and financial tools in his vision for the metaverse, an immersive online environment.

Digital tokens similar to those used for transactions in video games are being examined by Meta, with the internet company’s version dubbed “Zuck Bucks” by those working on it, according to the Financial Times.facebook-metaverse-markzuckerberg

Tokens are used for transactions in popular games like “Fortnite” and “Roblox.”

Tokens could be used to compensate creators and influencers whose posts attract online audiences.

Meta is attempting to diversify its revenue streams away from targeted advertising, which has raised worries about breaching users’ privacy.