Meta to charge a whopping 47.5% fee on metaverse virtual asset purchases

Creators who make and sell digital assets on Meta’s Horizon Worlds virtual reality platform will earn slightly less than expected, as the company plans to take up to 47.5%.

In a recent blog post, Facebook’s parent company announced that it would allow certain Horizon Worlds creators to sell virtual assets in their digital worlds. While this is good news for creators, Meta has not mentioned how much it will charge them to sell digital assets and possibly even NFTs on its platform.

According to a new report from CNBC, a company spokesperson confirmed to the outlet that it would require an overall discount of up to 47.5% on each transaction. This discount includes a 30% “hardware platform fee” for sales made through the Meta Quest store, although Horizon Worlds also charges a 17.5% fee.

So far, creator reactions to high Meta fees have been less than stellar, which could hurt adoption of Horizon Worlds which launched in the US and Canada in December this year. latest, but has not yet been rolled out worldwide.

Virtual Assets vs In-App Purchases

As the metaverse is still a relatively new idea and has yet to be fully implemented, CNBC and other outlets have drawn comparisons between the company’s fees for selling virtual assets in Horizon Worlds and the fees charged by Apple to app developers.

In the past, Meta CEO Mark Zuckerberg and other company executives have criticized the iPhone maker for charging developers a 30% fee for in-app purchases. In November last year, Zuckerberg explained that the company would make it easier for developers to earn for their work, saying:

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“As we build for the metaverse, we’re focused on creating opportunities for creators to earn money from their work. The 30% fee Apple takes on transactions makes that more difficult, we so let’s update our subscription product so creators can now earn more.”

Meanwhile, Google announced last year that it would reduce its own fees from 30% for digital purchases in the Play Store to 15% for the first million dollars in annual revenue, while Apple announced that it would reduce its fees to 15% for developers earning less than $1. m every year.

Meta needs to make money on the metaverse to be successful, but with fees as high as 47.5%, it can be hard to convince developers to create content for Horizon Worlds. However, the company may decide to cut its fees ahead of the global rollout of Horizon Worlds.

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