You know what they say: if at first you don’t succeed, try, try again. Well, it seems Mark Zuckerberg has made that the slogan of his crypto efforts.
Meta has plans for a new virtual currency, affectionately called “Zuck Bucks” by staff. The social media giant wants to introduce virtual coins, tokens, creator coins, and lending services to a bunch of its apps that can be used in its new metaverse.
It comes after the brand’s crypto venture, Diem, called it quits earlier this year after getting blocked by regulators at literally every turn. Meta is diverging from a typical blockchain-based cryptocurrency this time, instead looking at in-app tokens that are centrally controlled by the company – similar to Robux in Roblox games.
Will this bring the fans flocking back? As most of us will know from Meta’s infamous earnings report in Feb (which sent the stock crashing), the firm is struggling to attract and retain users, so it needs to explore further revenue streams and spice up its platforms.
Kill me now