Meta could have abandoned the Diem project, but
it would still explore the possibility of issuing its
own digital assets. The organization is currently working on a virtual currency, Zuck Bucks.
own digital assets. The organization is currently working on a virtual currency, Zuck Bucks.
Zuck Bucks is unlikely to become a cryptocurrency in the usual sense, as there are plans to introduce the asset to the metaverse. Meta may also issue "Social Tokens" to reward participation and "Author Coins" for influencers.
“We are making changes to our strategic product and roadmap so that we can prioritize building the metaverse and what payments and financial services will apply to in this digital world,” said Stefan Kasrel, Meta Finance.
Virtual currency can be implemented in Meta services in parallel with the NFT integration study for Facebook and Instagram. The company intends to launch the corresponding beta program in May this year.
According to a spokeswoman for Meta Lauren Dixon, the company "is focused on the metaverse, including what payments and financial services might apply to."
In turn, the Financial Times explained that Mark Zuckerberg's company can apply "tokens in applications that will be centrally controlled by the company, similar to those used in gaming applications, such as the Robux currency in the popular Roblox kids game".
Roblox has incorporated a very serious Robux company, so Meta might look to replicate that success on its own platforms.
Remember, Meta wanted to release their token in the first six months of 2020, but decided to reject it due to regulatory warnings. The company changed the name of the project from Libra to Diem.
This year, reports emerged in the media that the company could sell its cryptocurrency project for $200 million, then it was learned that Silvergate Capital had become a buyer of Diem's intellectual property and other assets. .
Remember, Meta wanted to release their token in the first six months of 2020, but decided to reject it due to regulatory warnings. The company changed the name of the project from Libra to Diem.
This year, reports emerged in the media that the company could sell its cryptocurrency project for $200 million, then it was learned that Silvergate Capital had become a buyer of Diem's intellectual property and other assets. .