Founder of Facebook and its parent company, Meta; Mark Zuckerberg, is always busy trying to advance these social platforms or create something better.
It was recently reported that Meta is working on a virtual currency for its apps – Facebook, Instagram and WhatsApp.
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“Zuck Bucks,” as these virtual coins have been named by Meta employees, is the company’s solution to reducing its reliance on advertising in the future.
Meta is exploring new ways to further monetize its user base.
All according to the Financial Times, which first reported this story.
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So what exactly can you expect?
You know TikTok has an option where fans can buy coins to buy gifts for their favorite creators, right? Creators can also buy coins to use additional tools like Promote to boost their TikTok video’s profile, thereby increasing the number of viewers or subscribers.
Meta hopes to develop something along these lines.
Coins will include “Social Tokens” or “Reputation Tokens”, which will be used as rewards by users. The “Creator coins” would be used by influencers on Instagram.
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The Financial Times reports that this is still in the early planning stages.
Main Image Courtesy: Unsplash
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