• Latest
  • Trending
  • All
  • News
Meta’s Plan to Disappoint Creators – 47.5% Cut on Every Sale

Meta’s Plan to Disappoint Creators – 47.5% Cut on Every Sale

April 15, 2022
The Complete Home-Selling Timeline: How Long It Takes To Sell a House

The Complete Home-Selling Timeline: How Long It Takes To Sell a House

June 26, 2022
Biden Signs Gun Control Bill Into Law: ‘Lives Will Be Saved’

Biden Signs Gun Control Bill Into Law: ‘Lives Will Be Saved’

June 26, 2022
Malaysia’s $30bn wealth fund to stand by carbon-emitting state companies

Malaysia’s $30bn wealth fund to stand by carbon-emitting state companies

June 26, 2022
Japan’s biggest chipmakers from Toshiba to Sony brace for engineer shortage

Japan’s biggest chipmakers from Toshiba to Sony brace for engineer shortage

June 26, 2022
How to Earn Passive Income Through Amazon Dropshipping

How to Earn Passive Income Through Amazon Dropshipping

June 26, 2022

Scaling Up Your Freelancing Career to a Small Business

June 26, 2022
Attend Digital Summit Portland 2022 for the Latest Cutting-Edge Marketing

Attend Digital Summit Portland 2022 for the Latest Cutting-Edge Marketing

June 26, 2022
10 Ways to Take Your Current Marketing Plan to the Next Level

10 Ways to Take Your Current Marketing Plan to the Next Level

June 26, 2022
How Emotionally Intelligent People Use the ‘Warren Buffett Rule’ to Become Exceptionally Persuasive

How Emotionally Intelligent People Use the ‘Warren Buffett Rule’ to Become Exceptionally Persuasive

June 26, 2022
Try the ‘3-R’ Sleep Ritual to Help Combat the Dreaded Revenge Bedtime Procrastination

Try the ‘3-R’ Sleep Ritual to Help Combat the Dreaded Revenge Bedtime Procrastination

June 26, 2022
Kraken Daily Market Report for June 24 2022

Kraken Daily Market Report for June 24 2022

June 25, 2022
Swiss Luxury Brand Hublot Adopts Bitcoin Payments

Swiss Luxury Brand Hublot Adopts Bitcoin Payments

June 25, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 26, 2022
  • Login
WallStreetReview
  • Home
  • News
No Result
View All Result
WallStreetReview
No Result
View All Result
Home News

Meta’s Plan to Disappoint Creators – 47.5% Cut on Every Sale

by Editor
April 15, 2022
in News
0
Meta’s Plan to Disappoint Creators – 47.5% Cut on Every Sale
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

You are here: Home / News / Blockchain / Meta’s Plan to Disappoint Creators – 47.5% Cut on Every Sale

Meta’s Plan to Disappoint the Creators - 47.5% Cut on Every Sale

April 14, 2022 by Vignesh Karunanidhi

Facebook’s parent company, Meta, is collecting a 47.5 percent cut on digital assets sold through Horizon Worlds, its virtual reality platform.

Horizon Environments is a free virtual reality game that allows players to create and explore their own virtual worlds. While all of this is part of Mark’s ambition to build a virtual “metaverse,” it comes at a cost to authors.

Horizon Worlds was released last year and is now accessible for Oculus VR headsets in the United States and Canada.

Within the worlds they construct, creators may sell virtual things and effects. Wendy’s “Wendyverse,” for example, is simply an advertisement where frosty aficionados can communicate with one another.

A Meta spokesperson told CNBC:

“Meta will take an overall cut of up to 47.5% on each transaction. That includes a ‘hardware platform fee’ of 30% for sales made through the Meta Quest Store, where it sells apps and games for its virtual reality headsets. On top of that, Horizon Worlds will charge a 17.5% fee.”

Meta’s decision will disappoint the creators

After openly criticizing Apple for collecting a 30% developer charge for in-app purchases in the App Store, this news appears dishonest.

“As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work,” he said. “The 30% fees that Apple takes on transactions make it harder to do that, so we’re updating our subscriptions product so now creators can earn more.”

Mark Zuckerberg

In virtual worlds like Decentraland and The SandBox, organizations and people have been buying everything from art to real estate in the last few months. Snoop Dogg, the hip-hop artist, has bought virtual land, and a fan spent $450,000 for a piece next to him on The Sandbox in December.

“We think it’s a really competitive fee in the industry,” Meta’s VP of Horizon, Vivek Sharma, allegedly told The Verge. We feel that other platforms should be allowed to participate.”

Horizon Worlds (previously Facebook Horizon) is a free online virtual reality game that allows users to create and explore virtual worlds. The game was released on Meta’s Oculus VR headsets in the United States and Canada on December 9, although it has yet to be released globally.

Read More

Share196Tweet123Share49
Editor

Editor

  • Trending
  • Comments
  • Latest
Canada’s OSC Flags Tweets From Coinbase, Kraken CEOs

Canada’s OSC Flags Tweets From Coinbase, Kraken CEOs

February 22, 2022
Trudeau Invokes Rare Emergency Powers To Shut Down ‘Freedom Convoy’ Blockades

Trudeau Invokes Rare Emergency Powers To Shut Down ‘Freedom Convoy’ Blockades

February 15, 2022
S&P 500 confirms correction as stocks stumble on war fears

S&P 500 confirms correction as stocks stumble on war fears

February 23, 2022
Scholz to warn Putin of western resolve on Ukraine

Scholz to warn Putin of western resolve on Ukraine

0
Waning stockpiles drive widespread global commodity crunch

Waning stockpiles drive widespread global commodity crunch

0
FT Global MBA Ranking 2022: US business schools dominate

FT Global MBA Ranking 2022: US business schools dominate

0
The Complete Home-Selling Timeline: How Long It Takes To Sell a House

The Complete Home-Selling Timeline: How Long It Takes To Sell a House

June 26, 2022
Biden Signs Gun Control Bill Into Law: ‘Lives Will Be Saved’

Biden Signs Gun Control Bill Into Law: ‘Lives Will Be Saved’

June 26, 2022
Malaysia’s $30bn wealth fund to stand by carbon-emitting state companies

Malaysia’s $30bn wealth fund to stand by carbon-emitting state companies

June 26, 2022
WallStreetReview

Copyright © 2022. WallStreetReview.com

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • News

Copyright © 2022. WallStreetReview.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Don't miss the

NEWSLETTER

Exclusive editorial

Breaking News

Quality Company Coverage

Expert Writers

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

WallStreetReview will use the information you provide on this form to be in touch with you and to provide updates and marketing.