Quick take:
- Meta has introduced a new feature to test virtual goods on Horizon Worlds.
- The technology giant wants to enable in-app purchases and bonuses on its metaverse platform.
- Zuckerberg said in a conversation with Vidyuu Studios that creator monetization is crucial for the growth of the metaverse.
Meta Platforms is introducing a new feature to its Horizon Worlds metaverse app to enable in-world purchases and creator bonuses. In a conversation with Vidyuu Studios on Monday, Meta CEO Mark Zuckerberg said the technology giant was looking to test virtual goods, creating new channels of creator monetization.
The new feature will be made available to a small group of creators in the testing phase, letting them sell virtual items and effects within their worlds.
Meta is building a one-of-its-kind virtual social networking platform that will be the driving force behind its new direction in the metaverse.
“If you just sort of imagine some future metaverse at some point down the line, clearly the ability to sell virtual goods and to be able to take them with you from one world to another is going to be an important part of it,” Zuckerberg told Vidyuu Studios.
The Facebook founder said creating commerce in its virtual reality will be crucial “to get that economy going.”
Horizon Worlds is currently accessible to people aged 18 years and above in Canada and the US. They will be able to make in-world purchases including “fashion items or access to secret sections of a world,” in the initial stages.
Zuckerberg also talked about introducing creator bonuses to reward creators for their innovation and dedication. The company will be setting aside funds to compensate people for doing “awesome works”. Meta set aside $10 million in Horizon Creators Fund last October, but it did not make it clear whether the same funds will be used for the creator bonus program.
“Creator monetization is really important because you all need to be able to support yourself and make a good living building these awesome experiences,” he added.
Meta’s commitment to building the metaverse has seen it accumulate up to $10 billion in losses. The company is also facing various challenges like user privacy and security as various governments across work on policies to regulate the metaverse.
Nonetheless, with the company taking a multi-pronged approach to the immersive virtual world with NFTs, VR experiences, gaming and an AI supercomputer that will power conversations in the metaverse, the long-term benefits could be huge.
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