Meta is working on a virtual currency dubbed ‘Zuck Bucks’ after regulators pulled the plug on its Diem cryptocurrency. The company is still exploring finance products, with indications that the Zuck Bucks are unlikely to be a cryptocurrency.
“Instead, Meta is leaning towards introducing in-app tokens that would be centrally controlled by the company, similar to those used in gaming apps such as the Robux currency in popular children’s game Roblox,” a report by The Financial Times says.
The social or reputation tokens “could be issued as rewards for meaningful contributions in Facebook groups, for example,” FT says.
Meta declined to comment on the issue.
Read: Religious Leaders Urge Zuckerberg to Discontinue Development of Instagram for Kids
“We have no updates to share today,” Spokesperson Lauren Dickson said when prodded by the Verge.
“We continuously consider new product innovations for people, businesses, and creators. As a company, we are focused on building for the metaverse and that includes what payments and financial services might look like.”
The company has not entirely distanced itself from cryptocurrency, as it recently announced plans to integrate NFTs into its Instagram and Facebook apps.
Email your news TIPS to Editor@kahawatungu.com or WhatsApp +254707482874. You can also find us on Telegram through www.t.me/kahawatungu
Email your news TIPS to Editor@kahawatungu.com or WhatsApp +254707482874
GIPHY App Key not set. Please check settings