Mark Zuckerberg Announces Meta Pay
A digital wallet for the metaverse called Meta Pay was formally introduced by Mark Zuckerberg on Wednesday.
According to Zuckerberg, Meta Pay works precisely like Facebook Pay did, with a few tweaks to make it more compatible with the concept of the metaverse.
On Facebook, Instagram, WhatsApp, Messenger, and anyplace else you could use Facebook Pay, it will continue to be simple to shop, send money, and donate to causes you care about. A wallet for the metaverse that enables you to securely manage your identity, what you own, and how you pay is something we’re working on in addition to the present features, Zuckerberg said in a Facebook post.
In May, the business gave its first indication that it was preparing to make this change to its digital payment service and stated that it was concentrating on improving the payment experiences it already offers with Facebook Pay.
Digital apparel, art, music, films, experiences, virtual events, and more will be available in the future for you to create or purchase. The ability to transfer some of these assets between platforms will require proof of ownership, according to Zuckerberg.
The massive tech company Meta is allegedly developing a virtual currency called “Zuck Bucks” that will likely be accepted on all of its sites (Instagram, WhatsApp, and Facebook). According to The Verge, this purported digital currency is unlikely to be a cryptocurrency because the company failed to launch one in 2019. However, the business has started announcing NFTs on Facebook and Instagram.
In order to improve the experience for everyone, Zuckerberg stated that they also want to investigate interoperability on the digital wallet.
In a perfect world, he added, you should be able to sign into any metaverse experience and find anything you’ve purchased there.
Although there is still a long way to go, this kind of interoperability will result in significantly better user experiences and more options for producers. In other words, you’ll value your digital goods more the more places you can use them without difficulty, which expands the market for creators, according to Zuckerberg.
